General
Wall Street recovers from tech sell-off as bitcoin drops from record high, ASX to open flat
Australian shares are expected to open lower as global investors, fearing an overvalued market, dumped their high-flying tech stocks once again.
ASX futures were down 8 points (-0.1pc) to 6,783, by 7:30am AEDT.
The Australian dollar was steady at 79.13 US cents.
In economic news, the Bureau of Statistics (ABS) will release figures on workers’ pay rises in the December quarter, and the amount of construction activity performed in that period.
“For wages, we are forecasting a 0.3 per cent lift in the quarter which would see the annual growth rate slow to a new record low of just 1.1 per cent (in line with consensus),” Commonwealth Bank currency strategist, Elias Haddad, said.
Reuters-polled economists are expecting the value of construction…
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