ASX 200 Closes 0.4% Lower
The ASX 200 fell 38 points, or 0.4%, to finish at 8,793 on Thursday, erasing modest gains in the previous session as U.S. stock futures weakened amid higher oil prices and mounting concerns about AI investment. Caution also emerged ahead of Australia’s flash October PMI data due Friday. Meanwhile, Reserve Bank Deputy Governor Hauser said inflation remains more persistent than expected, with September headline CPI at 4%, reinforcing expectations of another rate hike in November. Consumer discretionary, mining, and energy stocks led declines, while gains in logistics, transport, and utilities helped limit losses. BHP Group tumbled 2.3% amid operational disruptions at key assets, including the Escondida mine in Chile. Woodside Energy fell 3.2%, Wesfarmers lost 2.9%, while BlueScope Steel eased 1.4%. Codan Ltd. plunged 7.4% after an off-market block trade worth AUD 312 million, reportedly involving the sale of roughly 23% of the stake held by its largest individual shareholder.
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The ASX 200 fell 38 points, or 0.4%, to finish at 8,793 on Thursday, erasing modest gains in the previous session as U.S. stock futures weakened amid higher oil prices and mounting concerns about AI investment. Caution also emerged ahead of Australia’s flash October PMI data due Friday. Meanwhile, Reserve Bank Deputy Governor Hauser said inflation remains more persistent than expected, with September headline CPI at 4%, reinforcing expectations of another rate hike in November.
Consumer discretionary, mining, and energy stocks led declines, while gains in logistics, transport, and utilities helped limit losses. BHP Group tumbled 2.3% amid operational disruptions at key assets, including the Escondida mine in Chile. Woodside Energy fell 3.2%, Wesfarmers lost 2.9%, while BlueScope Steel eased 1.4%. Codan Ltd.
plunged 7.4% after an off-market block trade worth AUD 312 million, reportedly involving the sale of roughly 23% of the stake held by its largest individual shareholder.