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ASX to fall as 70,000 to be affected by train strikes

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and Sydney trains pulling into a station.
The ASX is expected to fall this morning as commuters prepares for more train strikes. (Source: Getty)

ASX: The local market is expected to slip at the open today after Wall Street was pushed lower overnight.

This comes after the local share market edged slightly higher yesterday, as gains by retail companies helped outweigh weakness from the Big Four banks.

Wall Street: US stocks extended losses on Tuesday as investors assessed earnings and prepared for another worrisome inflation report due out on Wednesday (local time).

China relations: China's ambassador to Australia is preparing to launch a defence of Beijing's actions in the Pacific in a national address.

Xiao Qian will address the National Press Club today, his first such address since taking up the role of ambassador this year.

It comes amid heightened tensions in the region as the US and Australia work to counter Chinese influence in the Pacific after Beijing inked a security deal with the Solomon Islands earlier this year.

Alcohol spin: Health-conscious Aussies may want to reconsider their next "low sugar" alcoholic drink as experts warn "healthy" booze marketing campaigns can often be misleading.

More than 75 per cent of adult drinkers believe that beverages with "low carb" and "no added sugar" labels are healthier options, however these products should not be considered a healthy product, according to Cancer Council Victoria.

Business travel: Business travel is making a comeback despite rising numbers of COVID-19 cases across Australia.

More than 26,000 new infections and 104 deaths were recorded nationally on Tuesday.

Pregnancy care: Forcing women into top-level private health insurance for birth and pregnancy cover is a form of gender discrimination, the National Association of Obstetricians and Gynaecologists (NAOG) claims.

NAOG president Gino Pecoraro said it was the only service excluded from lower-level health insurance based on gender. He has taken the matter to the Human Rights Commission.

Strikes: NSW train commuters face further disruption today as services are cancelled while the rail union continues long-running industrial action.

Services will not run on the T4 Eastern and Illawarra line and South Coast line.

Sydney Trains chief executive Matt Longland said about 70,000 people would typically travel those lines on a regular Wednesday.

  • With AAP

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