By Oliver Gray
Investing.com - The S&P/ASX 200 dipped 8.6 points or 0.1% to 7,444.2 after the first 115 minutes of Monday’s trade, as investors proved cautious amid growing signs of a global economic downturn ahead, with market participants looking ahead to key inflation data set to be released later in the week.
ASX 200 Futures were pointing 0.2% lower.
Among stocks, Real estate led declines as Goodman Group (ASX:GMG) dipped 0.6%, Mirvac Group (ASX:MGR) lost 0.7%, Charter Hall Group (ASX:CHC) fell 0.9% and Stockland Corporation Ltd (ASX:SGP) dipped 1%.
Materials were trading 0.1% lower with Rio Tinto Ltd (ASX:RIO) down 0.9%, BHP Group Ltd (ASX:BHP) dipping 1.2% and Fortescue Metals Group Ltd (ASX:FMG) losing 0.9%.
Meanwhile, Information Technology bucked the trend, lifting 1.1% overall as Block Inc (ASX:SQ2) added 6.1%, Appen Ltd (ASX:APX) lifted 1.2%, Megaport Ltd (ASX:MP1) gained 1.6%, Link Administration Holdings Ltd (ASX:LNK) added 1% and Novonix Ltd (ASX:NVX) lifted 4%.
Ahead in the week, scheduled economic events include preliminary Services and Manufacturing PMIs, NAB business confidence, as well as the closely watched Q4 CPI and PPI figures.
Among currencies, the Australian dollar was trading near 5-month highs of 0.698.
On the bond markets, Australia 10-Year rates were at 6-week lows of 3.451%, while United States 10-Year rates were at 3.481%.
In New Zealand, the NZX 50 fell 0.4% to 11,924.7.