Australian Investment Blog

• The ASX 200 closed 78 points lower (-1.3%) at 5821, following the weak US lead and not helped by low volumes today due to Victoria and Tasmania on holiday due to Labour day.• There were very little gems found in the sea of red. QBE Insurance (QBE) outperformed, up 2.8% at $13.81 as investors see QBE benefit from a rise in US interest rates.• The banking sector was weak, Commonwealth Bank, the Alpha of the big four closed 0.6% lower at $90.52. • The commodities space continued to disappoint - gold continued to lose its lustre as Newcrest Mining (NCM) ended 4.7% lower at $12.65 and Regis Resources (RRL) down 12.1% at $1.23. While BHP Billiton (BHP) closed 1.5% lower at $32.15 and RIO Tinto (RIO) down 2.0% at $59.20.