- ASX200 is 0.64% lower at 6751.9.
- Afterpay slumps on UBS negative note after CBA BNPL launch.
- Victorian government world-first electric vehicle tax.
The tech sector is trading lower today as losses for Nextdc, Iress and Nearmap offset a near 4.5% gain for Link Administration Holdings.
The Australian market is 0.64% lower at 6751.9 just after midday as healthcare stocks weigh on the key index.
Australia?s unemployment rate hit a low 5.8% for February from 6.4% in January exceeding economist estimates of a 6.3% rate for February.
Bitcoin is trading at US$59,099.13 up 6% in the last 24-hours and boosting YTD gains to over 101%.
Pandemic winner and BNPL leader Afterpay is sinking today after UBS released a negative broker note about Afterpay and more than halved its price target rating for Afterpay to $36/share. The note followed the Commonwealth Bank announcing its new BNPL offering yesterday which will undercut Afterpay?s fees and complete credit checks that Afterpay refuses to undertake.
In the headlines, the Victorian government is set to introduce a world-first tax on electric vehicles at around $330 per year from July 1 if the bill is passed by the state parliament. The proposed tax stands in stark contrast to many other nations and states globally who offer incentives for consumers to drive zero-emission vehicles.
And asking Alexa to talk less and whisper is now possible through the Amazon Echo by activating the new Brief Mode and Whisper mode.