AIRLINK 78.61 Increased By ▲ 5.08 (6.91%)
BOP 4.65 Decreased By ▼ -0.02 (-0.43%)
CNERGY 4.03 Increased By ▲ 0.02 (0.5%)
DFML 36.48 Increased By ▲ 0.39 (1.08%)
DGKC 88.25 Increased By ▲ 1.70 (1.96%)
FCCL 22.29 Increased By ▲ 0.31 (1.41%)
FFBL 30.15 Increased By ▲ 0.14 (0.47%)
FFL 9.18 No Change ▼ 0.00 (0%)
GGL 9.92 Increased By ▲ 0.06 (0.61%)
HASCOL 6.11 Decreased By ▼ -0.14 (-2.24%)
HBL 105.00 Decreased By ▼ -0.01 (-0.01%)
HUBC 137.50 Increased By ▲ 0.05 (0.04%)
HUMNL 10.65 Decreased By ▼ -0.10 (-0.93%)
KEL 4.64 Increased By ▲ 0.15 (3.34%)
KOSM 4.00 Increased By ▲ 0.01 (0.25%)
MLCF 37.13 Increased By ▲ 0.43 (1.17%)
OGDC 119.19 Decreased By ▼ -0.21 (-0.18%)
PAEL 23.98 Increased By ▲ 0.01 (0.04%)
PIBTL 6.07 Increased By ▲ 0.02 (0.33%)
PPL 114.05 Increased By ▲ 1.55 (1.38%)
PRL 23.17 Increased By ▲ 0.36 (1.58%)
PTC 12.20 Increased By ▲ 0.30 (2.52%)
SEARL 59.05 Increased By ▲ 0.65 (1.11%)
SNGP 61.98 Increased By ▲ 0.87 (1.42%)
SSGC 9.76 Increased By ▲ 0.11 (1.14%)
TELE 7.67 Increased By ▲ 0.12 (1.59%)
TPLP 9.48 Decreased By ▼ -0.06 (-0.63%)
TRG 63.72 Increased By ▲ 0.62 (0.98%)
UNITY 26.85 Increased By ▲ 0.05 (0.19%)
WTL 1.30 Increased By ▲ 0.01 (0.78%)
BR100 7,583 Increased By 39.5 (0.52%)
BR30 24,238 Increased By 202.6 (0.84%)
KSE100 72,797 Increased By 207.9 (0.29%)
KSE30 23,213 Increased By 76.4 (0.33%)

Australian shares slipped on Monday as losses in financials and technology stocks outweighed gains in commodity-related stocks, while investors awaited minutes of the central bank’s last policy meeting for interest rate clues.

The S&P/ASX 200 index fell 0.2% to 7,040.20 by 1130 GMT after a 1.4% gain last week.

Minutes of the Reserve Bank of Australia’s (RBA) October meeting, due on Tuesday, will be closely assessed by investors for clues into where interest rates will stand going forward.

The September unemployment report due on Thursday is expected to play a key role in the RBA’s monetary policy decision next month.

“A tight labour market may strengthen the odds for the RBA to continue raising interest rates,” said Tina Teng, a markets analyst at CMC Markets.

Tech stocks dropped the most on the benchmark index, with a 2.3% fall.

Megaport and Xero dropped 1.9% and 2.6%, respectively. Heavyweight financial stocks declined 0.6%, with the “big four” banks down between 0.4% and 0.9%.

Australian shares snap six-day rally on Fed rate-hike worries

Gold stocks jumped 4.7%, hitting their highest level since Sept. 18, after safe-haven bullion rallied more than 3% on Friday over the Middle East conflict. Newcrest Mining, the country’s largest gold miner, gained about 4.4%.

Heavyweight miners rose 1%, with Rio Tinto and Fortescue up 0.8% and 0.2%, respectively.

Energy stocks advanced 0.9% on concerns the Middle East conflict could drive up oil prices further. Santos and Woodside Energy were up 1.6% and 1%, respectively.

Among individual stocks, US-based Albemarle dumped a $4.16 billion buyout bid for Australian lithium developer Liontown Resources.

Westpac tapped Ampol chairman Steven Gregg to take over as chairman, replacing veteran banker John McFarlane who will complete his term on Dec. 14. Westpac shares were down 0.9%.

New Zealand’s benchmark S&P/NZX 50 index fell 1% to 11,157.68.

Prime minister-elect Christopher Luxon’s centre-right National Party and preferred coalition partner ACT won a razor-thin electoral victory on Saturday, together securing 61 seats in 121-seat parliament.

Comments

Comments are closed.