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Australian Shares Move 0.7% Lower as Yields Firm, Info Tech Dips

Stock Markets Aug 12, 2022 10:51
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AXJO
-1.23%
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By Oliver Gray 

Investing.com - The S&P/ASX 200 was down 52.5 points or 0.7% to 7,018.5 after the first hour of Friday’s trade, following gains of 1.5% in the previous session as investors tracked a mixed close among U.S. equities overnight as risk sentiment was dampened amid rising bond yields.

ASX 200 Futures was trading 0.3% lower.

Among stocks, Information Technology led declines, down 1.6% overall with Block Inc (ASX:SQ2) down 3.8%, Appen Ltd (ASX:APX) falling 1.3%, Megaport Ltd (ASX:MP1) down 2.7%, Novonix Ltd (ASX:NVX) dipping 4.6% and Brainchip Holdings Ltd (ASX:BRN) down 2.2%.

Consumer Staples also declined 0.5% with Woolworths Ltd (ASX:WOW) down 0.7%, Coles Group Ltd (ASX:COL) falling 0.5%, Treasury Wine Estates Ltd (ASX:TWE) dipping 0.2% and Metcash Ltd (ASX:MTS) dipping 0.5%.

Meantime, Materials were down 0.4% collectively as Rio Tinto Ltd (ASX:RIO) added 0.2%, while BHP Group Ltd (ASX:BHP) and Fortescue Metals Group Ltd (ASX:FMG) dipped 0.4% apiece and Champion Iron Ltd (ASX:CIA) lifted 0.8%.

Energy was also up 0.6% as Woodside Energy Ltd (ASX:WDS) adding 1.3%, Santos Ltd (ASX:STO) up 0.4%, Beach Energy Ltd (ASX:BPT) lifting 0.8% and Viva Energy Group Ltd (ASX:VEA) gaining 0.6%.

On the bond markets, Australia 10-Year rates were at 3.446% while United States 10-Year yields were at 2.891%.

In New Zealand, the NZX 50 were little changed at 11,765.2.

Australian Shares Move 0.7% Lower as Yields Firm, Info Tech Dips
 

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