- ASX200 closes 0.90% lower at 6777.80.
- Nine Entertainment reports strong H1 results.
- Buy Now, Pay Later sector faces new code of conduct.
The Australian market closed the midweek session 0.9% lower at 6777.80 points as the tech and mining sectors weighed on the key index.
Appen took the biggest hit today, shedding more than 11% at close.
Tech stocks led the losses, driven by Appen. Pandemic favourites Afterpay and Zip Co both closed the session lower on news a code of conduct will be introduced for the buy now, pay later sector from March 1.
Bitcoin has rebounded from an overnight low of US$44,964.49 to trade over US$50,700 at 4:15pm AEDT.
Data out today shows more Australians are investing in cryptocurrencies like Bitcoin than in precious metals like gold.
In major news, the BNPL code will require companies like Afterpay and Zip Co to undertake credit checks for transactions over $2000, restrict purchases after late repayments, and ban the use of their platforms for minors.
Nine Entertainment Co reported a 42% increase in half-yearly earnings before tax at AUD$355M compared to the same period last year.
And the Victorian Government is considering copying the US with hotel quarantine surveillance robots. The high-tech robots are 158cm tall, have 60 different sensors and 360-degree cameras with heat and temperature sensing features.