By Oliver Gray
Investing.com - The S&P/ASX 200 fell on Wednesday, losing 18.3 points or 0.24% to 7512 and reversing slight gains of 0.07% in the previous session as a stronger Greenback hit commodity prices, pushing mining heavyweights lower.
On the coronavirus front, New South Wales added 1480 fresh cases as the state hit the 75% first dose vaccinations, Victoria tallied 221 cases, with 123 of those unlinked to known outbreaks as Premier Daniel Andrews is set to ease restrictions in regional Victoria, while the ACT tallied 20 cases, with 11 linked to unknown outbreaks as residents remain under lockdown restrictions.
Among stocks, miners were generally weaker despite an uptick in Iron ore prices, with Rio Tinto Ltd (ASX:RIO) falling 0.48%, BHP Billiton Ltd (ASX:BHP) dipping 0.88% and Fortescue Metals Group Ltd (ASX:FMG) down 0.39%. Meantime, higher longer term bond yields proved optimistic for banking firms as National Australia Bank Ltd (ASX:NAB), Commonwealth Bank Of Australia (ASX:CBA) and Westpac Banking Corp (ASX:WBC) added 0.42%, 0.5% and 0.12% respectively. Macquarie Group Ltd (ASX:MQG) also surged 4.37% after providing an investor presentation that projected a slight slowdown in first half revenues.
On the bond markets, local 10-Year bond yields were at 8-week highs of 1.299% while United States 10-Year rates were at 1.368%.
In New Zealand, the NZX 50 index fell 131.91 points or 0.99% to 13193.01.