Australian shares fall further in early trade
Australian stocks drop 39 points, or 0.4%, to 9,170 in early trading, extending losses as U.S. equity futures edge lower and domestic inflation caution persists after the RBA held rates steady at 4.35%.
S. S. July CPI data and strong earnings reports from chip shares. 35% earlier this week but left the door open for further tightening following three hikes this year.
Sector-wise, communications, consumer durables, retail, and transport weighed on sentiment, while industrial services and tech offered some support. Commonwealth Bank dropped more than 2%, contrasting with gains in the other three majors. 3%) also among notable laggards.