ASX 200 falls 0.6% to 2-week low; NAB, JB Hi-Fi drop
The ASX 200 declines 0.6% to 9,065 for a fourth straight session, hitting a two-week low, while NAB and JB Hi-Fi lead downside amid cautious China data and policy signals.
The ASX 200 lost 50 points or 0.6% to close at 9,065 on Monday, marking its fourth straight decline and a two-week low.
Sentiment stayed cautious ahead of key July data from main trading partner China, including industrial output, retail sales, and unemployment.
Meantime, U.S.
Dow futures weakened as no interim peace deal emerged between Washington and Tehran, with few catalysts on the calendar aside from the Fed’s minutes due Wednesday.
Locally, July labor data is expected later this week after June’s steady jobless rate.
Meanwhile, RBA Assistant Governor Kent signaled tight monetary settings remain necessary to curb inflation.
NAB slumped 4.7% on concerns that repealing property-investment tax breaks could weigh on earnings and credit growth.
JB Hi-Fi plunged near 12%, its worst session since March 2020, after reporting a drop in Australian sales for the first month of fiscal 2027.
Other notable laggards included Suncorp Group (-5.0%), QBE Insurance (-2.1%), and Pro Medicus (-2.0%).