Australia Stocks Fall
Australian equities retreat 0.5% to 9,207 in morning trade
5% to 9,207 in morning trade, erasing the prior day’s modest uptick after Wall Street’s overnight weakness and stalled Strait of Hormuz talks lifted oil prices ahead of key inflation data. 35% after three hikes this year, stressing inflation remains uncomfortably high and expectations elevated. Sectoral weakness was led by tech services, manufacturing, consumer services, and retail, though consumer durables and logistics offered partial support. 8%).
Market focus now shifts to testimony from Governor Michele Bullock before parliament on Friday, preceded by Assistant Governor Chris Kent’s appearance Thursday, as investors weigh policy signals against persistent inflationary pressures.