By Oliver Gray
Investing.com - The ASX 200 lost 0.5% on Thursday, closing at two-week lows after a flat session yesterday as mining stocks were hit hard following a dip in iron ore prices overnight, while risk sentiment also soured as U.S. Federal Reserve officials indicated a willingness to start tapering asset purchases before the end of the year at their latest meeting.
In coronavirus news, New South Wales tallied a record 681 fresh cases today with two public schools in inner-Sydney forced to close due to outbreaks. Victoria reported 57 locally acquired infections, with 13 infectious while in the community amid grants and hardship payments extended for Victorian workers and businesses, while the ACT tallied 16. Meantime, Queensland health authorities reported zero cases.
Among stocks, Rio Tinto Ltd (ASX:RIO), BHP Billiton Ltd (ASX:BHP), Fortescue Metals Group Ltd (ASX:FMG) plunged as Iron ore dipped in overnight trade. Meantime, Origin Energy Ltd (ASX:ORG) closed lower after reporting an A$2.29 billion full-year loss, while gold miner Newcrest Mining Ltd (ASX:NCM) lifted on solid results.
In local news, Australia’s employment data surprised to the upside, posting the lowest seasonally adjusted unemployment rate since December 2008 with the latest data capturing the early weeks of the Greater Sydney lockdown, while the number of people looking for full-time work decreased 22,300 amid protracted restrictions across the country.