By Oliver Gray
Investing.com - The ASX 200 closed 20.3 points or 0.27% lower to 7417 on Wednesday, following gains of 0.16% in the previous session as major miners and banks weighed on sentiment after Wall Street indices lost steam overnight on concerns about higher corporate taxes.
On the coronavirus front, New South Wales added 1259 new cases today, as Premier Gladys Berejiklian has announced that the population has reached an 80% single-dose vaccination rate, with curfew in the 12 local government areas of concern set to lift tonight. Victoria reported 423 fresh cases as the state surges toward its first dose vaccination target. ACT recorded 13 new cases as government officials announced that the territory would remain in lockdown for another four weeks amid persistent mystery cases.
Among stocks, the energy sector retraced yesterday’s gains, with Santos Ltd (ASX:STO) down 2.39%, Woodside Petroleum Ltd (ASX:WPL) down 1.15%, Oil Search Ltd (ASX:OSH) down 1.9% and Beach Energy Ltd (ASX:BPT) down 2.96%. Miners were weaker with Rio Tinto Ltd (ASX:RIO), BHP Billiton Ltd (ASX:BHP) and Fortescue Metals Group Ltd (ASX:FMG) down 1.88%, 3.55% and 1.33% respectively. the big four banks also lost ground, with Commonwealth Bank Of Australia (ASX:CBA), National Australia Bank Ltd (ASX:NAB) and Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 0.22%, 0.35% and 0.36% respectively. In contrast, Pilbara Minerals Ltd (ASX:PLS) closed 8.41% higher.
Among data, the Westpac-Melbourne Institute consumer sentiment index rose 2.0% in September, partially recouping a 4.4% drop in August. Westpac chief economist Bill Evans noted that “The improving vaccine situation appears to be a key factor behind these results.”
In New Zealand, the NZX 50 fell 9.31 points or 0.07% to 13099.3.