By Oliver Gray
Investing.com - The S&P/ASX 200 lost 13.30 points or 0.18% to 7,341.70 during Tuesday’s trade, following slim gains of 0.1% in the previous session as market participants bought into tech stocks after the Nasdaq rebounded overnight, while the real estate sector fell after Charter Hall announced a 50% stake in Paradice Investment Management.
ASX 200 Futures were pointing 0.14% lower.
Among stocks, major miners were mixed, with Rio Tinto Ltd (ASX:RIO) falling 1.07% while BHP Billiton Ltd (ASX:BHP) added 0.05%, Fortescue Metals Group Ltd (ASX:FMG) gained 0.71%, Lake Resources NL (ASX:LKE) added 1.93% while Pilbara Minerals Ltd (ASX:PLS) surged 7.17%.
Energy stocks were higher amid recovering crude oil prices, with Woodside Petroleum Ltd (ASX:WPL) up 0.88%, Santos Ltd (ASX:STO) adding 1.3% and Beach Energy Ltd (ASX:BPT) lifting 0.4%.
Technology companies also tracked a strong relief rally on the Nasdaq overnight, with Appen Ltd (ASX:APX) up 0.66%, Link Administration Holdings Ltd (ASX:LNK) adding 1.7%, Novonix Ltd (ASX:NVX) gaining 0.23%, Xero Ltd (ASX:XRO) lifting 0.57% and Wisetech Global Ltd (ASX:WTC) advancing 0.42%.
Financial were slightly lower overall, with Australia and New Zealand Banking Group Ltd (ASX:ANZ) down 0.55%, National Australia Bank Ltd (ASX:NAB) falling 0.56% and Bank Of Queensland Ltd. (ASX:BOQ) down 0.62%, while Macquarie Group Ltd (ASX:MQG) , Commonwealth Bank Of Australia (ASX:CBA) , and Westpac Banking Corp (ASX:WBC) added 0.51%, 0.19%, and 0.22%, respectively.
Meantime, real estate names were in the red, with Mirvac Group (ASX:MGR) down 1.37%, Goodman Group (ASX:GMG) lost 1.03%, Stockland Corporation Ltd (ASX:SGP) fell 0.46% and Lend Lease Group (ASX:LLC) shed 0.57%. Charter Hall Group (ASX:CHC) also lost 4.58% after purchasing a 50% interest in Paradice Investment Management. Charter Hall chief executive David Harrison noted that “This partnership represents a rare opportunity to invest in a large scale, high-quality listed equities fund manager with $18.2 billion of funds under management and a 20-year track record, building upon and significantly expanding our existing listed real estate equities business.”
On the bond markets, Australia 10-Year yields were at 1.615%, while United States 10-Year rates were at 1.457%.
Among currencies, the Aussie was trading at 0.71463 while the US Dollar Index was trading below 16-month highs at 96.478.
In New Zealand, the NZX 50 was 0.42% lower at 12,803.