By Oliver Gray
Investing.com - The ASX 200 fell 52.1 points or 0.7% to 7379.3 on Wednesday, reversing gains of 0.5% in the previous session and retreating from record highs as investors remained cautious as headline annual inflation soared 3.8%, while accelerating domestic coronavirus cases further dampened risk sentiment.
On the coronavirus front, New South Wales reported a record 177 fresh cases today as Premier Gladys Berejiklian announced a four-week extension of lockdown restrictions, with exemptions for construction sites. Prime Minister Scott Morrison also announced further income support for businesses and individuals affected. Victoria recorded 8 fresh cases after easing lockdown restrictions yesterday, while Queensland reported a single community case and 19 fresh infections aboard a bulk carrier MV Sanyu off the Queensland coast.
Among stocks, Spark Infrastructure Group (ASX:SKI) gained 5.38% after an improved takeover offer led by a consortium led by KKR and Ontario Teachers’ Pension Plan, while Rio Tinto Ltd (ASX:RIO) closed 0.19% lower after reporting a doubling in first-half underlying earnings amid surging iron ore prices on strong demand from China.
In New Zealand, the NZX 50 closed slightly higher, gaining 0.04% to 12595.32.