Australian Shares Finish 0.1% Lower, Brainchip Rallies 25%

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Australian Shares Finish 0.1% Lower, Brainchip Rallies 25%
Credit: © Reuters.

By Oliver Gray 

Investing.com - The ASX 200 fell 8.50 points or 0.11% to 7,408.80 during Tuesday’s trade, retracing earlier gains as healthcare companies dragged on the index, while declines were also registered among financial heavyweights.

The Materials sector finished 0.45% higher, with Rio Tinto Ltd (ASX: RIO ) down 0.35%, Fortescue Metals Group Ltd (ASX: FMG ) falling 0.1% and BHP Billiton Ltd (ASX: BHP ) up 1.29%, while significant gains were seen for rare earth miners. Lake Resources NL (ASX: LKE ) added 0.53%, Pilbara Minerals Ltd (ASX: PLS ) gained 2.66%, Arizona Lithium Ltd (ASX: AZL ) surged 7.69%, Magnis Resources Ltd (ASX: MNS ) rallied 10.28%, while Avz Minerals Ltd (ASX: AVZ ) tumbled 7.51%.

Health Care retreated broadly, with CSL Ltd (ASX: CSL ) down 1.57%, Sonic Healthcare Ltd (ASX: SHL ) easing 0.45%, Fisher & Paykel Healthcare Ltd (ASX: FPH ) down 1.31%, Ramsay Health Care Ltd (ASX: RHC ) falling 0.56%, Pro Medicus Ltd (ASX: PME ) down 2.07% and Clinuvel Pharmaceuticals Ltd (ASX: CUV ) finishing 2.01% lower.

Technology names were mostly higher, with Appen Ltd (ASX: APX ) up 2.44%, Novonix Ltd (ASX: NVX ) lifting 6.02%, Computershare Ltd. (ASX: CPU ) up 0.58%, Xero Ltd (ASX: XRO ) gaining 0.79% and Brainchip Holdings Ltd (ASX: BRN ) surging 25.68%.

BNPL names declined, as Zip Co Ltd (ASX: Z1P ) fell 3.43% and Afterpay Touch Group Ltd (ASX: APT ) eased 0.73%.

Financials finished lower, with Macquarie Group Ltd (ASX: MQG ) down 0.36%, Commonwealth Bank Of Australia (ASX: CBA ) falling 0.37%, National Australia Bank Ltd (ASX: NAB ) down 0.14% and Westpac Banking Corp (ASX: WBC ) declining 0.28%

On the bond markets, Australia 10-Year yields lifted to fresh 11-week highs of 1.939% while United States 10-Year rates were at fresh 2-year highs of 1.838%.

In New Zealand, the NZX 50 finished 0.06% higher at 12,814.

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