ASX 200 falls another 39 points to 8354 (0.5%) as profit-taking in the market leaders continues. No resource bounce today to counter that. Banks slid with the Big Bank Basket down to $256.32 (-0.3%). MQG off 0.8% and insurers slipping lower. Much lower as yields continue to fall on the ‘turtle’ dovish tilt from the RBA yesterday. REITs help up with GMG better, Tech once again under the pump with the All-Tech Index down 0.8% and WTC and XRO off 3.0% and 1.4% respectively. Industrials also falling with BXB, SGH and ALL falling back to earth. Resources were mixed, BHP rose 0.4% but RIO and FMG eased back. Gold miners were mixed, GMD up 1.1% and WGX better again. S32 dropped hard down 4.4%, on Mozambique issues, PLS down 0.9% and MIN down 1.6%. Oil and gas fell with uranium finding some stability. Coal stocks better again. In corporate news, REX under fire from ASIC on $80m bailout issues. CTT had a $16.5m block trade, NAB sold the remainder of MLC to Nippon. VUL in a trading halt for a cap raising and SIG laid out the timetable for Chemist Warehouse merger. In economic news, we had National Accounts showing a nominal GDP rise of 0.4%. The terms of trade fell 2.5%. Asian markets becalmed ahead of US CPI. 10-year yields higher at 4.18%.

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