ASX 200 Weekly Decline Extends to 3rd Straight Period
The ASX 200 finished flat at 8,731 on Friday, following recent gains, with strength in tech, industrial services, and non-energy minerals offset by weakness in healthcare, energy names, and consumer non-durables. Early gains faded after Reserve Bank of Australia's Governor Michele Bullock struck a hawkish tone in parliament, warning inflation remains stubbornly high and upside risks are materializing, keeping the door open for further hikes. Meanwhile, U.S. stock futures firmed on softer oil prices and U.S. Treasury yields. Heavyweight BHP Group climbed 1.4%, while gold miners Evolution Mining (4.4%) and Northern Star Resources (2.4%) also advanced. In contrast, the big four banks slipped between 0.2% and 1.9%, with Xero (-4.1%) and Bluescope (-3.1%) also lagging. For the week, the benchmark index eased 0.1%, its third straight decline, as caution grew ahead of Australia's labor data for August, due next week, after July’s surprise rise in unemployment and drop in jobs.
The ASX 200 finished flat at 8,731 on Friday, following recent gains, with strength in tech, industrial services, and non-energy minerals offset by weakness in healthcare, energy names, and consumer non-durables. Early gains faded after Reserve Bank of Australia's Governor Michele Bullock struck a hawkish tone in parliament, warning inflation remains stubbornly high and upside risks are materializing, keeping the door open for further hikes. S. S.
Treasury yields. 4%) also advanced. 1%) also lagging. 1%, its third straight decline, as caution grew ahead of Australia's labor data for August, due next week, after July’s surprise rise in unemployment and drop in jobs.