Portfolio manager at Ten Cap, Jun Bei Liu, also noted there had been several problems at the ASX in recent times, saying she thought the latest incident would dent investor confidence in ASX’s ability to turn things around. “I think it’s terrible for their reputation,” Liu said.

A spokesperson for the Australian Securities and Investments Commission said: “ASIC is aware of issues with the ASX market announcement platform and is engaging with ASX.”

The outage occurred on a day when the overall market slipped 0.6 per cent, or 48.90 points, to 8565.20.

Eight of the market’s 11 sectors were in the red, with healthcare and technology posting the sharpest declines.

The major banks were weaker across the board, with Commonwealth Bank and National Australia Bank both shedding 0.6 per cent, Westpac losing 0.9 per cent and ANZ Bank falling 1.3 per cent.

Iron ore heavyweights BHP (up 1 per cent) and Rio Tinto (up 0.4 per cent) and Fortescue (up 0.8 per cent) all climbed, while gold miners posted a mixed performance. Northern Star moved 0.2 per cent higher, while Evolution Mining lost 1.9 per cent and Newmont fell 0.2 per cent.

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Star Entertainment said on Monday its new chair would be Bruce Mathieson Jr, from the family that has invested in the struggling casino operator, alongside US business Bally’s. Soo Kim, the chair of Bally’s, will also join Star’s board.

Australia’s biggest winemaker, Treasury Wines, lost 0.7 per cent after announcing a non-cash impairment in its US business, with all $687.4 million of goodwill to be written off by the Penfolds maker in response to slowing growth.

Insurance broker AUB Group’s shares dived 17.8 per cent over news that its private equity suitors – EQT and CVC – had withdrawn their $5.25 billion bid for the company. Energy stocks are mixed, with Woodside Energy up 0.7 per cent, Santos slumping 0.5 per cent and Ampol adding 0.9 per cent in early trade.

Metcash, which was holding its financial results and had its shares halted until the afternoon due to the glitch, fell sharply when trading resumed, with its shares tumbling 9.2 per cent. Metcash operates retailers including IGA and Mitre 10, and it disappointed investors after it posted a 2.4 per cent drop in interim group earnings before interest and tax, citing “tough trading conditions.”

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ASX Limited, which is listed on the exchange, closed 2.8 per cent lower. The Australian dollar was trading at $US65.41¢ at 5.01pm AEDT.

On Friday, Wall Street rose for a fifth straight day to put the wraps on a volatile month.

The S&P 500 rose 0.5 per cent in abbreviated trading on Friday and closed out November with a slim gain of 0.1 per cent. The Dow Jones rose 289 points, or 0.6 per cent. The Nasdaq gained 0.7 per cent but ended November with a drop of 1.5 per cent because of losses for some big tech stocks.

US stocks swooned in mid-month as investors worried that stocks boosted by the frenzy around artificial intelligence such as Nvidia had become too expensive. Nvidia lost 1.8 per cent on Friday and closed the month with a double-digit loss. Oracle fell 23 per cent in November, while Palantir Technologies sank 16 per cent.

Some tech stocks did notch monthly gains, most notably Alphabet, which rose nearly 14 per cent due to excitement about its recently released Gemini AI model.

The market turned around on hopes the Federal Reserve will again cut interest rates at its next meeting. Recent comments from Fed officials have given traders more confidence the central bank will again cut interest rates at its meeting that ends on December 10. Traders are betting on a nearly 87 per cent probability that the Fed will cut, according to data from CME Group.

With AP

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