ASX 200 Pares Early Losses at Finish

The ASX 200 eased 63 points, or 0.7%, to close at 8,702 on Thursday, snapping recent gains as U.S. stock futures fell amid concerns over more Fed tightening after last week’s first rate hike since 2023. Locally, traders weighed the risk of a hawkish move from the Reserve Bank of Australia at next week’s meeting amid stubborn inflation. Still, markets trimmed early weakness after fresh data showed unemployment edged up to 4.6% in August, slightly above consensus. Governor Bullock earlier noted that joblessness in the 4.5%—5.0% range could help restrain inflation. Manufacturing, non-energy minerals, and commercial services lagged, partially offset by strength in energy minerals and logistics. A stronger U.S. dollar and softer copper weighed on resources, with BHP and Rio Tinto down 1.8% and 1.2%. The big four banks fell 1.0%—1.9%, while other notable decliners included PLS Group (-6.1%) and HUB24 (-3.5%). Energy stocks bucked the trend, lifted by Santos (2.1%) and Woodside Energy (1.5%).