Shares in Pinnacle Investment Management are up 9 per cent today to $4.22 after it announced a 32 per cent increase in profit to $30.5 million and a fully franked final dividend of 9.3 cents, about 33 per cent higher than last year's. It also pointed out net inflows of $6.5 billion over 2018-19, which is an achievement in the managed funds world where retail investors are sceptical in the post- Royal Commission environment and institutional super funds bringing investment decisions back in-house.

Total funds under management (FUM) are now $54.3 billion, up from $38 million in June 2018. This is due to a combination of acquisitions, new money, and $3 billion from investment performance.

Westpac confirms its broking platform failed during this morning's rush, meaning some traders were unable to take advantage of the dip.

"The Westpac Online Investing site experienced a technical fault earlier today with some customers experiencing an intermittent issue with placing orders, managing orders or checking holdings on the website. The issue was identified at 10:30am and rectified within 90 minutes," the spokeswoman said.

"We apologise for any inconvenience caused and Westpac Online Investing is working through to ensure orders have been placed and impact on customers minimised."

Traders have decided Fortescue Metals has received enough of a beating and the stock started rising earlier this afternoon. This morning chief executive Elizabeth Gaines reassured the iconic mining industry's Diggers and Dealers conference that she still sees strong demand from China.

"Trade tensions are clearly having some impact on markets more broadly at the moment, but there is still strong demand for iron ore in China," she said.

The iron ore pure play has fallen 30 per cent in the past four weeks from an intra-day high of $9.55 on July 4 down to a low of of $6.75 in this morning's opening panic. After three days of losses, traders are now buying Fortescue and it is 3.95 per cent higher than yesterday's close at $7.37.

Meanwhile Rio Tinto has improved since 2pm and is now 0.72 per cent higher at $92.14. BHP Group has just slipped into green territory with a rise of 0.1 per cent to $37.42.

However the banking stocks are still under pressure with Commonwealth Bank down 2 per cent, Westpac down 2.3 per cent, ANZ Bank down 2.1 per cent and NAB down 2 per cent.

Rates are on hold at 1 per cent. Governor Philip Lowe said:

"It is reasonable to expect that an extended period of low interest rates will be required in Australia to make progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments in the labour market closely and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time."

The Chinese yuan has reversed course, recovering after falling to 11-year lows earlier in the session. The USD to CNY currently sits at 7.0380, down from the earlier session high of 7.0575. This strengthening is undoubtedly helping to improve sentiment across the region.

A continued decline in the yuan would increase concerns about not only a further escalation in trade tensions with the United States but also fears about a capital outflows from the country.

Meanwhile the Reserve Bank Board decision will be out within minutes.

Some mining stocks have found a floor with Fortescue Mining now up 4.4 per cent to $7.40 from $6.75 at the opening bell. The stability has eased the ASX's losses as investors start buying into bargains. The S&P/ASX 200 index now at 6513, up 69 points from a bottom of 6444 at opening.

Rio Tinto is now higher at $91.99, and Domino's Pizza has picked itself up from a one-year low to rise 1.25 per cent to $37.12.

Lynas Corp and Bingo Industries have both made substantial gains today, up 7.7 per cent and 6.9 per cent respectively.

Woolworths is hoping robotic warehouse workers will help it win the home delivery war, locking down an exclusive partnership with Boston-based startup Takeoff Technologies, writes Dominic Powell. Woolworths shares are down 1.98 per cent to $34.88 today against a 2.3 per cent decline in the S&P/ASX 200.

Dubbed 'micro-fulfilment', Takeoff provides compact warehousing operations through the use of vertical shelves and automated systems, which allows for smaller distribution centres of around 1000 square metres. Customers place an online order, which is then sent to the fulfilment system. Robots then take products off the shelves and transport them directly to a staff member, who packs the order for online. Woolworths is planning to roll out the technology across three sites over the next 12 months, ideally at existing store locations, chief executive Brad Banducci told The Age and The Sydney Morning Herald.

Full story available online soon.

Hayden Dimes and David Plank from ANZ Bank's research department say the $8,036 million surplus in June is "the highest on record by some margin".

"June has delivered a record trade surplus, continuing the strong run of trade surpluses seen this year. Underlying this were increases in exports but also a decrease in imports," they write in a note today.

"Exports rose on the back of record high iron ore exports, while imports were lower across most categories. Looking forward, further record surpluses are possible if resource exports hold up and imports continue to fall. Some moderation seems more likely, however. This record shattering surplus creates a material possibility for a current account surplus for the June quarter. This would be the first current account surplus since the 1970s.

"We expect iron ore prices to remain elevated, helping maintain Australia's strong surplus over the coming months. Rural goods sales were lower: cereals down 35.7 per cent, meat exports up 8.0 per cent and wool down 18.6 per cent."