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ASX 200 Dips 0.5%, RBA tipped to hike 25bp

Stock Markets Dec 06, 2022 11:37
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By Oliver Gray 

Investing.com - The S&P/ASX 200 was down 14.2 points or 0.2% at 7,311.4 after the first 100 minutes of Tuesday's trade, retracing gains of 0.4% in the previous session, with investors tracking a negative close among U.S. equities overnight as stronger than expected data sapped risk appetite, while local traders prepared for the RBA’s interest rate decision and statement later in the session.

ASX 200 Futures were pointing 0.3% higher.

Among stocks, Information Technology led declines, down 1.7% collectively. Block Inc (ASX:SQ2) fell 5.1%, Appen Ltd (ASX:APX) lost 4.4%, Megaport Ltd (ASX:MP1) dipped 5%, Link Administration Holdings Ltd (ASX:LNK) lost 0.9% and Novonix Ltd (ASX:NVX) shed 2.7%.

Materials and Energy also declined 0.7% and 0.6% respectively, with Rio Tinto Ltd (ASX:RIO) trading flat at $116.18, BHP Group Ltd (ASX:BHP) falling 0.2% and Fortescue Metals Group Ltd (ASX:FMG) down 1.4% while Santos Ltd (ASX:STO) and Woodside Energy Ltd (ASX:WDS) fell 1% and 0.8% respectively.

On the bond markets, Australia 10-Year rates were 3.366% while United States 10-Year yields were at 3.575%

The Australian Dollar is up 0.2% at 0.671.

In New Zealand, the NZX 50 fell 0.7% to 11,593.2.

ASX 200 Dips 0.5%, RBA tipped to hike 25bp
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