Australia stocks today: ASX drops as exchange operator’s 12% tech-cost shock rattles investors
Australian shares fell on Tuesday as ASX Ltd, the operator of the country’s main exchange, sank after warning of a jump in technology and regulatory spending. Reuters reported ASX shares fell as much as 12.6% to A$51.40, their worst intraday move since August 2012, while the benchmark S&P/ASX 200 was down about 0.4% earlier in the session. The drop matters because ASX is not just another financial stock. It runs core trading, clearing and settlement systems, and the new cost plan pushed an already live governance problem into earnings and dividend maths.