ASX 200 slips for sixth straight session to two-week low
Australian equities fall 0.3% to 9,042 in early trade for a sixth session, hitting a two-week low, as U.S. stock futures, bond rout dynamics, and higher oil prices weigh on sentiment.
Australian equities slipped 28 points, or 0.3%, to 9,042 in early trade on Wednesday, down for the sixth session and notching a two-week low.
Sluggish U.S. stock futures weighed on sentiment after a losing session on Wall Street overnight amid a global bond rout and higher oil prices.
Caution also grew ahead of the release of local data, including the Q2 wage price index later today and July labor data due Thursday.
Consumer durables, financials, and logistics weighed on the ASX 200, though strength in healthcare, energy minerals, and tech capped declines.
The four big banks retreated between 0.6% and 2.3%, reflecting drags from sharp declines in home-loan applications following May’s tax changes.
Other major laggards included Goodman Group (-4.4%), Northern Star Resources (-1.5%), and Evolution Mining (-1.1%).
In contrast, CSL (4.0%), Santos (23%), and Woodside Energy (0.9%) advanced.
Traders now anticipate a speech by the Reserve Bank Deputy Governor Andrew Hauser later in the day.