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Australian Shares Resume Declines, Down 0.7%

Published 16/09/2022, 10:48 am
© Reuters
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US10YT=X
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By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 50.8 points or 0.7% to 6,792.1 after the first hour of Friday’s trade, reversing gains of 0.2% in the previous session as investors tracked a lower close on Wall Street overnight, as rising interest rates and slowing global growth sapped risk appetite.

ASX 200 Futures were trading 0.2% lower.

Among stocks, Energy led declines, falling 2% as Woodside Energy Ltd (ASX:WDS) fell 2%, Beach Energy Ltd (ASX:BPT) lost 2.2%, Santos Ltd (ASX:STO) dipped 1.6% and Viva Energy Group Ltd (ASX:VEA) lost 1.4%.

Industrials were down 1.6% Brambles Ltd (ASX:BXB) fell 1.1%, Reece Ltd (ASX:REH) lost 1.5%, Transurban Group (ASX:TCL) dropped 0.8% and Atlas Arteria (ASX:ALX) shed 10.7%.

Real estate fell 1.3% as Mirvac Group (ASX:MGR) fell 1.2%, Charter Hall Group (ASX:CHC) lost 1.2%, Goodman Group (ASX:GMG) dipped 1.6% and Stockland Corporation Ltd (ASX:SGP) lost 1%.

Materials lost 1.4%, with Rio Tinto Ltd (ASX:RIO) down 1.1%, BHP Group Ltd (ASX:BHP) falling 1.6%, Fortescue Metals Group Ltd (ASX:FMG) down 0.8% while Champion Iron Ltd (ASX:CIA) added 2.1%.

On the bond markets, Australia 10-Year yields were 3.711%, while United States 10-Year rates were at 3.443%.

In New Zealand, the NZX 50 fell 14.8 points or 0.1% to 11,644.1.

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