ASX and commodities sink as China falters; RBA meets ahead of rates call
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ASX drops 1% led by mining sector decline as Chinese markets tumble again, while RBA starts 2-day policy meeting ahead of rates decision tomorrow.
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Trade surplus rises to $30.6bn in December quarter as import growth outpaces exports; but iron ore and coal exports fell.
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ANZ job ads rose 1.7% in January but are down 15.5% from November peak and 13% annually as labor market cools.
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Gold miners Silver Lake Resources and Red 5 announce merger to create $2.2bn company, though Silver Lake shares plunge 12%.
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Property listings rose nationwide in January and distressed sales jumped in NSW, pointing to desperate sellers though February activity looks strong.