By Oliver Gray
Investing.com - The S&P/ASX 200 fell 51.30 points or 0.70% to 7,327.10 on Wednesday after a flat session yesterday as market participants across the Asian-Pacific region remained cautious ahead of Jerome Powell’s statement regarding the inflation outlook following a two-day Federal Open Market Committee meeting.
Among stocks, the tech sector lagged the most as Appen Ltd (ASX:APX) lost 4.68%, Xero Ltd (ASX:XRO) fell 3.18%, Wisetech Global Ltd (ASX:WTC) lost 0.71%, Altium Ltd (ASX:ALU) dipped 4.12% Technology One Ltd (ASX:TNE) shed 3.44% and Nextdc Ltd (ASX:NXT) dropped 1.13%.
Mining heavyweights closed mixed, with Rio Tinto Ltd (ASX:RIO) up 0.24% while BHP Billiton Ltd (ASX:BHP) and Fortescue Metals Group Ltd (ASX:FMG) fell 0.51% and 0.32% respectively.
Financial companies finished higher, with Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 0.4%, National Australia Bank Ltd (ASX:NAB) adding 0.46%, Westpac Banking Corp (ASX:WBC) up 0.29% and Bank Of Queensland Ltd. (ASX:BOQ) lifting 0.88%, while cba dipped 0.63%
BNPL names traded lower, with Zip Co Ltd (ASX:Z1P) and Afterpay Touch Group Ltd (ASX:APT) down 6.92% and 3.12% respectively.
Real estate companies cooled after two consecutive sessions of gain, with Mirvac Group (ASX:MGR) down 1.69%, Charter Hall Group (ASX:CHC) falling 1.09%, Goodman Group (ASX:GMG) down 2.22% and Stockland Corporation Ltd (ASX:SGP) shedding 3.83%.
On the bond markets, Australia 10-Year yields were at 1.572% while United States 10-Year rates were at 1.433%.
Among data, the Westpac Consumer Sentiment Index declined 1% in December as states hit hardest by the recent outbreaks remained concerned around fresh Omicron coronavirus variant and the continued circulation of Delta cases in the country.
In New Zealand, the NZX 50 fell 0.47% to 12,869.