ASX 200 drops 0.2% to 9,188 in second straight session
Australia’s ASX 200 fell 21 points, or 0.2%, to close at 9,188 on Thursday, with communications, logistics and manufacturing weighing after a second day of weakness.
The ASX 200 fell 21 points, or 0.2%, to end at 9,188 on Thursday, marking a second day of weakness as communications, logistics, and manufacturing dragged.
Restrictive monetary policy kept sentiment cautious, with RBA’s Christopher Kent stressing tight settings are needed to rein in inflation.
In top trading partner China, policymakers signaled no broad easing and warning that history shows aggressive stimulus often precedes sharper shocks, adding to the bearish mood.
Insurance Australia Group slumped 5.1% on weaker cash earnings, hit by lower investment income and rising claims from severe weather.
Commonwealth Bank lost 2.2%, though ANZ rose 4.5% after a modest profit lift.
Miners were broadly lower, with Rio Tinto down 3.6% and South32 off 0.6%.
In contrast, ASX Ltd surged 9% after reporting a more than 5% rise in annual underlying profit, buoyed by heightened global volatility that boosted trading and post-trade activity.