Australian Market Trims Early Losses In Mid-market
(RTTNews) - The Australian stock market is trimming its early losses in mid-market moves on Friday, reversing some of the sharp gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 9,000 mark, with weakness in mining and technology stocks partially offset by gains in financial stocks.
The benchmark S&P/ASX 200 Index is losing 83.50 points or 0.92 percent to 8,981.60, after hitting a low of 8,923.30 earlier. The broader All Ordinaries Index is down 96.10 points or 1.04 percent to 9,109.10. Australian stocks closed sharply higher on Thursday.
Among major miners, Mineral Resources is sliding almost 5 percent, BHP Group is declining almost 4 percent, Fortescue is down more than 2 percent and Rio Tinto is losing more than 3 percent.
Oil stocks are mostly lower. Woodside Energy is edging up 0.2 percent, while Santos is declining almost 2 percent and Beach energy is losing more than 1 percent. Origin Energy is flat.
Among tech stocks, Afterpay and Square-owner Block is losing more than 2 percent, Zip is sliding almost 5 percent, Appen is tumbling almost 6 percent, Xero slipping almost 2 percent and WiseTech Global is down almost 1 percent.
Among the big four banks, National Australia Bank is advancing more than 3 percent and ANZ Banking is gaining more than 1 percent, while Commonwealth Bank and Westpac are adding almost 2 percent each.
Gold miners are weak. Northern Star Resources is losing more than 2 percent, Genesis Minerals is sliding more than 4 percent and Newmont is down almost 1 percent, while Evolution Mining and Resolute Mining are declining more than 3 percent each.
In the currency market, the Aussie dollar is trading at $0.692 on Friday.
Asian Markets A Sea Of Red Amid Wall Street Sell-off
Indian Shares Seen Lower Amid Global Tech Sell-off
Thai Stock Market May Extend Thursday's Losses
Japanese Market Plunges 6.6%
Indonesia Stock Market May Spin Its Wheels On Friday
Hong Kong Stock Market Overdue For Consolidation
Australian Market Notably Lower
