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ASX set to fall as Australia and Japan join forces

·2-min read
Side by side images of Australian Prime Minister Scott Morrison and Japanese Prime Minister Fumio Kishida.
Australia and Japan will sign a security treaty today. (Source: Getty)

Good morning.

ASX: The local market is expected to fall at the open after tech stocks weighed on US markets.

This comes after new year enthusiasm fell off yesterday and lowered the ASX as the latest wave of coronavirus infections dominated the economic agenda in many countries.

Wall Street: Technology stocks came under renewed pressure on Wednesday, with all three US indices taking a hit as investors turned away from tech and growth stocks in anticipation of higher rates.

The Dow Jones pulled back from a fresh record high, the S&P 500 retreated further from Tuesday's record intraday high and the Nasdaq underperformed against the other two major equity indexes.

BTC: Bitcoin is still hovering around the US$46,000 mark, with many investors believing the boom is officially over.

Watch the video below for more.

New treaty: Australia and Japan are set to ink a security treaty that Prime Minister Scott Morrison describes as "historic" during a virtual summit with his Japanese counterpart.

Thursday's meeting between Morrison and Fumio Kishida will outline a framework for future defence cooperation in the region.

The treaty follows China’s criticism of the Quad partnership formed between Australia, Japan, India and the US.

EV race: Apple is rumoured to be entering the electric vehicle space with the launch of the Apple car.

According to reports, Apple has gone back and forth with the idea of building its own car or just the self-driving technology that would power a car. Watch this space.

Mass recall: Mercedes-Benz is recalling 800,000 cars worldwide due to a technical fault.

Certain vehicles in the GLE/GLS, C-Class, E-Class, S-Class, GLC, CLS and G-Class series with diesel engines could develop a leak, the luxury carmaker said.

A single pound: The Duchess of Sussex will reportedly receive the nominal sum of one pound after a court concluded that the Mail on Sunday invaded her privacy.

The figure covers only the duchess's claims for invasion of privacy. The Mail will pay another unspecified sum for infringement of copyright and lawyer fees, the Guardian reported, citing court documents.

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