ASX snaps post-pandemic streak of highs: Aus shares trading 0.7% lower

Market Reports

by Michael Luu

Text-only (non-video) report.

The Australian sharemarket continued its bearish trend in the afternoon session, disrupting its streak of record-breaking performances in the post-pandemic period but still hovering above the 7000 mark. Losses in the big four banks induced downward pressure on the market, as Commonwealth (ASX:CBA) topped the falls, shedding 1.4 per cent by 3.40pm. All sectors except for Telcos closed in negative territory, as Infotech led the declines. Medical blue-chip CSL (ASX:CSL) dropped 0.4 per cent before the close of trade to epitomise the Healthcare sector’s performance today. 

At the closing bell, the S&P/ASX 200 was 0.68 per cent or 47.80 points lower at 7017.80.


The Dow Jones futures are pointing to a rise of 94 points.
The S&P 500 futures are pointing to a rise of 11 points.
The Nasdaq futures are pointing to a rise of 28 points.
The SPI futures are pointing to a fall of 64 points tomorrow morning.

Best and worst performers

The best-performing sector was Communication Services, up 0.21 per cent. The worst-performing sector was Information Technology, down 1.17 per cent.

The best-performing stock in the S&P/ASX 200 was Mineral Resources (ASX:MIN), closing 3.02 per cent higher at $45.08. It was followed by shares in Bank of Queensland (ASX:BOQ) and Healius (ASX:HLS).

The worst-performing stock in the S&P/ASX 200 was Challenger (ASX:CGF), closing 15.76 per cent lower at $5.56. It was followed by shares in Lynas Rare Earths (ASX:LYC) and Altium (ASX:ALU).

Asian markets

The Nikkei has lost 1.95 per cent. Hong Kong's Hang Seng has gained 0.25 per cent. The Shanghai Composite has gained 0.28 per cent.

Commodities and the dollar

Gold is trading at US$1771.39 an ounce.
Iron ore is 1.90 per cent higher at US$181.80 a ton.
Iron ore futures are pointing to a rise of 3.48 per cent.
Light crude is trading $0.69 higher at $61.62.
One Australian dollar is buying 78.02 US cents.

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