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(Reuters) - Shares of top Australian banks took a breather on Monday, after a sharp sell-off over the past eight sessions wiped off more than A$63 billion ($40 billion) from their market value.
Shares of the "Big Four" banks logged unprecedented growth last year on strong flows from superannuation funds and retail investors, pushing them to multi-year highs and trading at high multiples to the ASX200 benchmark index.
But last week's interest rate cut - the first since November 2020 - alongside...
>>> Read more: Shares of Australia's major banks take a breather after $40 billion wipe off
Shares of the "Big Four" banks logged unprecedented growth last year on strong flows from superannuation funds and retail investors, pushing them to multi-year highs and trading at high multiples to the ASX200 benchmark index.
But last week's interest rate cut - the first since November 2020 - alongside...
>>> Read more: Shares of Australia's major banks take a breather after $40 billion wipe off
