NAB Shares Rebound From Year Low As Rate-Cut Hopes Move ASX Banks
NAB shares climbed Wednesday as some buying came back into Australian banks following Tuesday’s slide. National Australia Bank Ltd. settled at A$36.33, up 1.03%. The stock touched a 52-week low of A$35.48 the previous day before investors responded to changing rate bets and a bounce in the ASX. Traders shifted focus away from any new company filing, watching the rate outlook instead. The odds of another Reserve Bank of Australia rate hike are down, and bets are building that cuts could be next. That’s key for banks. Higher rates help lending margins, but they can also put the brakes on borrowing and raise the risk of bad loans.