Oil prices fell after another rise in the US rig count signalled yet a higher hurdle in efforts to pare the global glut.

While shorting had long been a reality of how sophisticated investors play the market in Australia, it has of late turned brasher, louder, and far more aggressive.

Some of China's ports are demolishing old buildings to create more storage space, trading sources said.

Credit Suisse faces a sweeping tax evasion and money laundering investigation spanning five countries including Australia.

South African bank stocks tumbled and bonds plunged after the firing of Finance Minister Pravin Gordhan.

Banks helped power the Australian sharemarket to a weekly gain of 1.9 per cent, its biggest this year.