The S&P/ASX200 closed down on Tuesday, dropping 17 points or 0.2% to 7,475 coming off the 52-week high of 'M&A Monday' although the IT sector is still basking in that Afterpay (11.4%) glow. Pointsbet gambled on an institutional entitlement offer and lost 14%, the day's biggest backward step after raising $80 million and prepping 10 million new shares for issuance next week. Oil fell on China data, iron ore fell on Chinese thinking and in China another tech-giant Tencent fellafter the official state news agency described online gaming as “spiritual opium.” 

Our top three VODs today:

Square's Afterpay buyout could pave way for BNPL consolidation

The small caps’ guide to August reporting season

The perfect storm for M&A activity

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