ASX 200 closes lower at 9,067 amid cautious GDP outlook
ASX 200 edged down to close at 9,067 for a second straight decline. Retail trade, tech and commercial services weighed as investors stayed cautious ahead of Wednesday’s Q2 GDP data.
The ASX 200 edged lower to close at 9,067 on Tuesday, marking a second straight decline as weakness in retail trade, tech, and commercial services weighed.
Sentiment stayed cautious ahead of Australia's Q2 GDP data due Wednesday, with growth expected to remain sluggish after the weakest pace in a year last quarter.
Meanwhile, fresh figures showed a record current account deficit of AUD 27.2 billion in Q2, though the shortfall came in below forecasts.
Still, losses were partly offset by a private survey indicating factory activity in main trading partner China accelerated in July, with output, new orders, and foreign sales all rising.
Meanwhile, U.S. stock futures inched higher after Wall Street’s Monday retreat, still managing monthly gains.
The four big banks eased slightly, while REA Group (-4.3%), Westfarmers (-3.2%), and Woolworths (-2.7%) also dragged.
Energy names outperformed, with Woodside Energy up 1.1% and Santos jumping 1.8%.