The ASX closed lower, after a record 10.4 per cent slump in CommBank shares wiped around $25 billion from its market value, while investors digested major Federal Budget reforms targeting negative gearing and capital gains tax.
Ricardo Gonçalves speaks with Westpac economist Pat Bustamante about whether the budget changes go far enough to tackle housing affordability and inflation, before Jun Bei Liu from Ten Cap breaks down the market reaction and what the reforms could mean for sharemarket investors.
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