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China interrupted reporting season this weak devaluing its currency peg (the midpoint of where the yuan can trade against the US dollar) which had a sharp downward impact on the Aussie dollar. The People’s Bank of China again intervened in the currency market stemming the flow. This reaction by China (to what was ultimately a reaction to weaker inflation and exports) sent equity markets across the globe sharply lower. Domestically reporting season got into gear with issuers such as CBA, Transurban, AGL, Bendigo Bank, Telstra and Commercial Real Estate companies being the focus. Some corporate names reporting results far weaker than expected (i.e Computershare) but the shortfall of bank capital remins front and centre of investors attention with the Commonwealth Bank announced a capital raising of $5.0 billion which was widely expected by the market and was a direct reaction to the change in minimum risk weights announced by APRA in the past month.