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Syed
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ASX hits another record high amid rate cut hopes
Source: Sydney Morning Herald
The sharemarket hit record levels again on Friday, buoyed by optimism of local investors who cheered the stronger prospect of a February interest rate cut.
The laggards Magellan Financial Group deepened its losses throughout the day and spent most of it at the bottom of the bourse, closing 7.6 per cent lower. The $1.9 billion fund manager on Thursday revealed a series of changes to its executive managem… [3601 chars]
