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Australian Shares Extend Declines, Banks Retreat

Stock Markets
Published Nov 04, 2022 11:08
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By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 8.2 points or 0.1% to 6,849.7 after the first hour of Friday’s trade, extending losses of 1.8% in the previous session as market participants continued to retreat following hawkish comments from The U.S. Federal Reserve earlier in the week.

ASX 200 Futures were pointing 0.1% higher.

Among stocks, Financials led declines, falling 0.6% with Macquarie Group Ltd (ASX:MQG) adding 0.8%, Commonwealth Bank Of Australia (ASX:CBA) down 1.5%, National Australia Bank Ltd (ASX:NAB) falling 1.1%, Westpac Banking Corp (ASX:WBC) down 0.7% and Australia and New Zealand Banking Group Ltd (ASX:ANZ) falling 0.9%.

Real Estate dipped 0.5% with Goodman Group (ASX:GMG) down 1.2%, Charter Hall Group (ASX:CHC) falling 1.6% and Mirvac Group (ASX:MGR) dipping 1%.

On the economic front, the RBA is set to release its quarterly monetary policy statement, while local retail sales data is also due for release.

On the bond markets, Australia 10-Year rates were at 3.915% while United States 10-Year yields were at 4.16%.

In New Zealand, the NZX 50 fell 0.3% to 11,151.1.

Australian Shares Extend Declines, Banks Retreat
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