The Australian market eased modestly during Wednesday’s session. The S&P/ASX 200 fell 0.3% to 7,987.9 points.
Six of the 11 sectors of them ended in the red.
The banks were among the worst performing stocks, amid concern over the US banking sector and as CBA and Macquarie eased from records.
Energy and tech stocks also dragged, the energy sector off 1.5% as Brent traded at its lowest level since December 2021.
Among the tech players, NextDC was the laggard, down 5.6% as it tapped the market for cash to fund its expansion into Asia.
The materials sector finished in the green, up 1.6%. Mineral Resources led the pack with the stock making two-digits gains as the company flagged cost-cutting.Lithium miners also rallied amid reports Chinese EV battery maker CATL had suspended two mines.
Shares in REA Group fell 2.5% after UK’s Rightmove rejected its preliminary $11 billion takeover offer.
IGO, Brambles and IDP Education were among the company trading ex-dividend.
Today’s pundits looked at the sole Harris-Trump debate in the US where the Vice-President attacked Trump's intention to impose high tariffs on foreign goods; while the former President referred to the Biden-Harris administration record on inflation. Bitcoin prices fell during the debate.
Tonight, US CPI data for August will be released.
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Негізгі бет the COB: banks tank | 11.09.24
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