Australian Shares Finish 0.2% Lower, Tech Leads Declines
By Oliver Gray
Investing.com - The S&P/ASX 200 finished Wednesday’s session 15.3 points or 0.2% lower at 6,508.5 as investors retreated from Information Technology and Consumer Discretionary sectors on fears of a looming economic downturn.
Among stocks, Block Inc (ASX: SQ2 ) lost 1.4%, Appen Ltd (ASX: APX ) lost 0.4%, Megaport Ltd (ASX: MP1 ) fell 2.2%, Novonix Ltd (ASX: NVX ) shed 7% and Brainchip Holdings Ltd (ASX: BRN ) lost 3.8%.
Zip Co Ltd (ASX: ZIP ) shed 11.4% amid growing calls for the business to retreat from both the U.S. and the U.K.
Real estate stocks dipped 0.9%, with Charter Hall Group (ASX: CHC ) down 3%, Goodman Group (ASX: GMG ) falling 1.6% and Scentre Group Ltd (ASX: SCG ) down 1.5%.
Meantime, JB Hi-Fi Ltd (ASX: JBH ) fell 0.4%, Domino's Pizza Enterprises Ltd (ASX: DMP ) lost 0.1%, Aristocrat Leisure Ltd (ASX: ALL ) fell 3.4% and Wesfarmers Ltd (ASX: WES ) dipped 0.7%.
Utilities outperformed during the session, adding 1.7% collectively as Mercury NZ Ltd (ASX: MCY ) gained 4%, Origin Energy Ltd (ASX: ORG ) added 0.2%, APA Group (ASX: APA ) lifted 4.2% and AGL Energy Ltd (ASX: AGL ) gained 0.5%.
Energy also lifted 1.2%, with Woodside Energy Ltd (ASX: WDS ) up 2%, Santos Ltd (ASX: STO ) adding 1.2%, Beach Energy Ltd (ASX: BPT ) up 2.8% and Viva Energy Group Ltd (ASX: VEA ) lifted 1.4%.
On the bond markets, Australia 10-Year rates eased to 3.985% while United States 10-Year yields fell to 3.235%.
In New Zealand, the NZX 50 dipped 0.3% to 10,679.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or