Australia shares rebound, gain 1% as investors absorb Omicron shock [Reuters]
Westpac Banking Corporation (WBK)
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westpac.com.au/about-westpac/investor-centre
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Source: Reuters
coronavirus variant, with banks and miners boosting the benchmark index to its best day since early October. The S&P/ASX 200 index (.AXJO) was up 1% at 7,310.5 by 2355 GMT. The benchmark had lost 0.5% on Monday after a 1.7% drop on Friday. The benchmark, however, is down 0.26% so far this month, and is set for its third consecutive monthly loss. Heavyweight banking stocks (.AXFJ) were the top boosts to the benchmark, rising as much as 1.6% as the local currency recovered from the blows of Omicron fears. Lender Westpac Banking Corp (WBC.AX) jumped as much as 1.7%, even as the securities regulator filed six civil penalty proceedings against it for various compliance failures. read more The country's banking regulator after market hours on Monday published a set of rules requiring banks to hold more capital against investor and interest-only home loans but less for business loans, which is expected to affect loan pricing. read more Miners (.AXMM) advanced up to 1.2% after a b
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