Australian Market Extends Early Losses In Mid-market
(RTTNews) - The Australian stock market is extending its early losses in mid-market moves on Friday, adding to the slight losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 9,100 level, with weakness in mining, financial and technology stocks partially offset by gains in energy stocks.
The benchmark S&P/ASX 200 Index is losing 60.50 points or 0.66 percent to 9,086.30, after hitting a low of 9,057.30 earlier. The broader All Ordinaries Index is down 64.10 points or 0.69 percent to 9,210.10. Australian stocks closed slightly lower on Thursday.
Among major miners, Mineral Resources is declining more than 1 percent, while Fortescue, BHP Group and Rio Tinto are losing almost 1 percent each.
Oil stocks are mostly higher. Woodside Energy, Santos and Beach energy are gaining almost 1 percent each, while Origin Energy is adding more than 1 percent.
Among tech stocks, Afterpay and Square-owner Block is declining almost 4 percent, Zip is sliding more than 1 percent, Appen is declining more than 2 percent and WiseTech Global is down almost 1 percent, while Xero is gaining almost 1 percent after announcing a $1 billion share buyback.
Among the big four banks, National Australia Bank and ANZ Banking are losing almost 1 percent each, while Commonwealth Bank and Westpac are declining more than 1 percent each.
Gold miners are weak. Northern Star Resources is losing more than 2 percent, Genesis Minerals is tumbling more than 5 percent, Newmont is slipping almost 3 percent, Evolution Mining is declining almost 2 percent and Resolute Mining is sliding almost 4 percent.
In the currency market, the Aussie dollar is trading at $0.681 on Friday.
Asian Markets Trade Mixed
Indian Shares Seen Lower On Inflation Concerns
Losses May Accelerate For Thai Stock Market
Japanese Market Sharply Higher
Indonesia Stock Market May Head South Again On Friday
Lower Open Called For Hong Kong Stock Market
China Stock Market Poised To Open To The Downside
