ASX 200 Pares Early Losses
The ASX 200 eased 11 points, or 0.1%, to close at 8,720 on Thursday, extending prior drops as weakness in tech, non-energy minerals, and industrial services weighed. Still, early declines eased after September employment unexpectedly fell, tempering bets on further tightening by the Reserve Bank of Australia, with odds of a November hike dropping below 20% from 35% earlier. Meanwhile, the jobless rate held at 4.7%, its highest in nearly five years. In the U.S., futures tied to the S&P 500 and Nasdaq fell after a sharp sell-off in tech and hotter-than-expected inflation raised Fed hike concerns. BHP Group shed 4.8% despite averting a strike at Escondida, the world’s largest copper mine. Other laggards included South32 (-5.7%), Goodman Group (-4.6%), Evolution Mining (-3.0%), and Northern Star Resources (-2.0%). In contrast, WiseTech Global jumped 2.9% after ASIC cleared founder Richard White and two staff in a year-long insider trading probe, though one investigation remains ongoing.
1%, to close at 8,720 on Thursday, extending prior drops as weakness in tech, non-energy minerals, and industrial services weighed. Still, early declines eased after September employment unexpectedly fell, tempering bets on further tightening by the Reserve Bank of Australia, with odds of a November hike dropping below 20% from 35% earlier. 7%, its highest in nearly five years. , futures tied to the S&P 500 and Nasdaq fell after a sharp sell-off in tech and hotter-than-expected inflation raised Fed hike concerns.
8% despite averting a strike at Escondida, the world’s largest copper mine. 0%). 9% after ASIC cleared founder Richard White and two staff in a year-long insider trading probe, though one investigation remains ongoing.