Australian shares slipped on Thursday, impacted by banking stocks extending losses after the central bank raised interest rates by the most in 22 years, while Crown Resorts climbed after gambling regulators approved its buyout by Blackstone.
The S&P/ASX 200 index was down 0.9% at 7,058.80 by 0039 GMT, on track to hit a three-week low.
The benchmark closed 0.4% higher on Wednesday. Market sentiment was dampened as Australia’s four largest lenders hit multi-month lows, after the central bank’s rate decision earlier this week spooked investors, triggering concerns of a housing market sell-off.
The MSCI world equity index, which tracks shares in 50 countries, fell 0.56%.
In other key markets, Japan’s Nikkei rose 0.2% to 28,298.39 and S&P 500 E-minis futures inched 0.1% lower.
In Australia, financials were the lead laggards on the local bourse, slumping 2.9% to hit more than a year low.
The country’s “Big Four” banks slid between 2.2% and 3.2%.
The metals and mining index lost 0.2% on weak iron ore prices.
Sector behemoths BHP Group and Rio Tinto retreated 0.2% each, while Fortescue Metals Group was flat. On the upside, oil prices jumped to a 13-week high on Wednesday and lifted energy stocks up 0.8%.
Oil and gas major Woodside Energy Group rose 1.9%.
Meanwhile, Crown Resorts advanced 1.9% after gambling regulators in the states of Victoria and New South Wales approved US private-equity firm Blackstone Inc’s $6.3 billion takeover of the casino operator.
Australian shares rise as miners, energy stocks boost
Magellan Financial Group jumped 4.3% as the fund manager brought forward the appointment of David George as chief executive officer and managing director to July 19. New Zealand’s benchmark S&P/NZX 50 index fell 0.2% to 11,242.53.
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