The S&P/ASX 200 Index (INDEXASX: XJO) backed up yesterday’s gains with a disappointing day of trade on Tuesday.
The ASX 200 slumped 0.3% lower to wipe out Monday’s gains. The benchmark Aussie index closed at 6,706.9 points as Materials (+0.49%) was the only sector to climb higher.
The ASX 200 A-REITs (-0.90%) and Industrials (-0.88%) sectors were the worst performers in yesterday’s trade.
Here’s a recap of all of the events and announcements that you missed on another big day of ASX 200 trade on Tuesday.
1. WiseTech Global shares slump after latest acquisition
WiseTech Global Ltd (ASX: WTC) slumped 1.13% lower yesterday after the company’s latest acquisition announcement.
The ASX 200 tech company on Tuesday announced the acquisition of Ready Korea for $13.2 million upfront to improve its Korean customer service compliance.
Ready Korea is a leading customs, bonded warehouse, and trade compliance solutions provider in South Korea.
The purchase is the latest in a long line for WiseTech, which has seen its numbers questioned by short-seller J Capital Research.
2. Westpac an ASX 200 loser after AUSTRAC update
Westpac Banking Corp (ASX: WBC) shares fell 0.57% lower on the ASX 200 on Tuesday after an update on its AUSTRAC proceedings.
The bank allegedly breached the Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) Act 23 million times through its money transfer platform.
Westpac and AUSTRAC appeared in Federal Court on Monday as part of the agency’s proceedings against the bank.
The two parties have started discussions around a Statement of Agreed Facts according to yesterday’s update.
Westpac also completed its share purchase plan yesterday and raised $770 million from investors at $24.20 per share.
3. Fortescue Metals share price hits new record high
Aussie miner Fortescue Metals Group Ltd (ASX: FMG) saw its share price hit a new record high on the ASX 200 on Tuesday.
Fortescue shares reached a new high of $10.47 per share yesterday as iron ore prices continue to climb higher.
The Aussie miner’s shares are now up 149.88% since the start of January in a great year for shareholders.
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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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