Investment funds pour into Australian banks; caution on miners
By Aaditya GovindRao (Reuters) – Australian financial stocks are ruling the roost on the traditionally miners-led local main index, fueled by growing interest from equity funds that are wary of the commodity-backed sector due to poor Chinese demand. The financial sub-index, composed chiefly of the biggest lenders in the region, has risen more than 15% this year. In contrast, the local metals and mining index has declined more than 18% and conceded its top weighting … Read more…