FINSOC Weekly Wraps Vol.07

Jun 12, 2022 Weekly Wraps

 Following Tuesday’s cash rate hike, the collective value of the Big 4: Commonwealth Bank, Westpac, NAB and ANZ, fell by almost 9% in 3 days (till 10 June).
 The ASX dropped 4.2% this week, ending Friday with a new 50-day low.
 The Treasury is currently considering plans to regulate crypto asset service providers, with proposals to designate cryptocurrency assets as financial products
 Global investment business Blackstone is set to acquire entertainment group Crown Resorts for $8.9 Billion after receiving the green light from gaming regulators in NSW, Victoria and WA.
 Property group Mirvac is aiming to wrest control of AMP Capital’s $7 Billion office fund, AWOF, from real estate investment trust Dexus, calling for an investor vote to remove Dexus as the incoming manager