By Oliver Gray
Investing.com - The ASX 200 swung between gains and losses on Wednesday, last up 0.2%, following losses of 0.26% in the previous session and declines on Wall Street as market participants remained cautious on persistent inflation fears, key upcoming data and volatile commodity prices.
In coronavirus news, Victoria tallied 1571 fresh cases today, with health authorities ‘cautiously optimistic’ amid a slight drop in daily case numbers, while New South Wales reported 444 cases as the state continues to surge towards the 80% full vaccination mark. Meantime, the ACT has recorded 51 new locally acquired cases of COVID-19, at least 22 of whom were infectious in the community.
Among stocks, the financial sector fell with Commonwealth Bank Of Australia (ASX:CBA) down 0.24%, National Australia Bank Ltd (ASX:NAB) down 0.14% and Westpac Banking Corp (ASX:WBC) losing 1.01%. In addition, Bank Of Queensland Ltd. (ASX:BOQ) fell 2.57% after posting poor financial results. Mining heavyweights also fell as Iron ore prices slipped overnight, with Rio Tinto (ASX:RIO) falling 1.96%, BHP (ASX:BHP) down 0.08% and Fortescue (ASX:FMG) down 1.28%.
On the bond markets, Australia 10-Year yields eased from 5-month highs to 1.694%, while United States 10-Year rates also fell to 1.572%.
In New Zealand, the NZX 50 added 29.98 points or 0.23% to 13026.24.