Red theme across Asia-Pacific region: Aus shares trading 1.45% lower

Market Reports

by Michael Luu

The Australian sharemarket extended its bearish form from yesterday and submerged below the 7000-mark by Midday. All sectors have sunk into a sea of red, with Energy and Infotech descending 2.7 per cent and 2.3 per cent respectively to the lowest depths by noon. A whopping 15 per cent drop by data science firm Nuix (ASX:NXL) led the declines in technology shares.

At noon, the S&P/ASX 200 is 1.45 per cent or 101.60 points lower at 6916.20.

The SPI futures are pointing to a fall of 116 points.

The drop corresponded with a wider theme of red across Asian markets, as Japan’s Nikkei and Hong Kong’s Hang Seng fell 1.8 per cent and 1.5 per cent respectively.

Best and worst performers

The sector with the fewest losses is Health Care, down 0.40 per cent. The worst-performing sector is Energy, down 2.74 per cent.

The best-performing stock in the S&P/ASX 200 is HUB24 (ASX:HUB), trading 2.24 per cent higher at $24.17. It is followed by shares in IDP Education (ASX:IEL) and Champion Iron (ASX:CIA).
The worst-performing stock in the S&P/ASX 200 is Nuix (ASX:NXL), trading 15.38 per cent lower at $4.29. It is followed by shares in Challenger (ASX:CGF) and Lynas Rare Earths (ASX:LYC).

Commodities and the dollar

Gold is trading at US$1781.85 an ounce.
Iron ore is 4.30 per cent higher at US$189.61 a ton.
Iron ore futures are pointing to a rise of 0.59 per cent.
One Australian dollar is buying 77.26 US cents.