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ASX to edge lower; techs rally; iron ore tumbles


ASX falls; Xero hits record high on ASX 50 inclusion
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William McInnes
The Australian sharemarket closed lower on Tuesday as the major miners and banks fell, pushing the market to its lowest level in almost two weeks.
The S&P/ASX 200 Index fell 29 points, or 0.4 per cent, to 6631.3, after a heavy dip late in the trading session.
BHP Group led the losses, falling 2.3 per cent to $41.78 while Fortescue Metals Group dropped 3.1 per cent to $21.48 and Rio Tinto slid 1.3 per cent to $112.42.
The news APRA would scrap the cap on bank dividends did little to boost sentiment in the sector. Commonwealth Bank fell 1 per cent to $83.07, ANZ slid 0.9 per cent to $22.97, NAB dipped 0.7 per cent to $23.38 and Westpac declined 0.5 per cent to $19.93. ....

Andrew Reitzer ,