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Australian shares extend declines, GDP data in focus

Stock Markets Dec 07, 2022 11:27
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By Oliver Gray 

Investing.com  - the S&P/ASX 200 declined 50.8 points or 0.7% to 7,240.5 after the first 90 minutes of Wednesday’s trade, with investors tracking declines on Wall Street overnight as growing prospects of an economic downturn dented risk sentiment.

ASX 200 Futures were pointing 0.1% lower.

Among stocks, Energy led declines amid lower crude oil prices. Santos Ltd (ASX:STO) fell 0.8%, Woodside Energy Ltd (ASX:WDS) lost 1.9%, Beach Energy Ltd (ASX:BPT) shed 6.3% and Viva Energy Group Ltd (ASX:VEA) fell 3%.

Information Technology was 2.4% lower collectively, with Block Inc (ASX:SQ2) down 2.6%, Appen Ltd (ASX:APX) falling 3.1%, Megaport Ltd (ASX:MP1) down 4.8% and Brainchip Holdings Ltd (ASX:BRN) shedding 4.4%.

Ahead in the session,  traders will be monitoring Australia’s upcoming GDP release.

On the bond markets, Australia 10-Year rates were at 3.368% while United States 10-Year yields were at 3.54%.

In New Zealand, the NZX 50 was down 0.1% to 11,614.8.

Australian shares extend declines, GDP data in focus
 

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