AIRLINK 165.36 Decreased By ▼ -10.19 (-5.8%)
BOP 10.39 Decreased By ▼ -0.62 (-5.63%)
CNERGY 7.83 Decreased By ▼ -0.46 (-5.55%)
FCCL 45.65 Decreased By ▼ -1.58 (-3.35%)
FFL 15.12 Decreased By ▼ -0.90 (-5.62%)
FLYNG 26.48 Decreased By ▼ -0.83 (-3.04%)
HUBC 135.28 Decreased By ▼ -7.04 (-4.95%)
HUMNL 12.85 Decreased By ▼ -0.45 (-3.38%)
KEL 4.19 Decreased By ▼ -0.25 (-5.63%)
KOSM 5.47 Decreased By ▼ -0.43 (-7.29%)
MLCF 59.43 Decreased By ▼ -2.37 (-3.83%)
OGDC 213.07 Decreased By ▼ -13.70 (-6.04%)
PACE 5.41 Decreased By ▼ -0.36 (-6.24%)
PAEL 42.01 Decreased By ▼ -2.79 (-6.23%)
PIAHCLA 17.05 Decreased By ▼ -0.83 (-4.64%)
PIBTL 9.93 Decreased By ▼ -0.54 (-5.16%)
POWER 11.79 Decreased By ▼ -0.23 (-1.91%)
PPL 174.79 Decreased By ▼ -11.13 (-5.99%)
PRL 34.36 Decreased By ▼ -2.80 (-7.53%)
PTC 22.70 Decreased By ▼ -1.35 (-5.61%)
SEARL 93.75 Decreased By ▼ -6.54 (-6.52%)
SILK 1.15 No Change ▼ 0.00 (0%)
SSGC 36.11 Decreased By ▼ -2.40 (-6.23%)
SYM 13.48 Decreased By ▼ -1.27 (-8.61%)
TELE 7.12 Decreased By ▼ -0.61 (-7.89%)
TPLP 10.21 Decreased By ▼ -0.82 (-7.43%)
TRG 60.93 Decreased By ▼ -5.07 (-7.68%)
WAVESAPP 10.28 Decreased By ▼ -0.69 (-6.29%)
WTL 1.28 Decreased By ▼ -0.07 (-5.19%)
YOUW 3.70 Decreased By ▼ -0.08 (-2.12%)
BR100 12,314 Decreased By -512.5 (-4%)
BR30 36,508 Decreased By -2353.5 (-6.06%)
KSE100 114,909 Decreased By -3882.2 (-3.27%)
KSE30 35,541 Decreased By -1237.5 (-3.36%)

Australian shares fell in choppy trade on Wednesday, dragged by miners and bank stocks, a day after the country’s central bank kept interest rates steady at a 12-year high and ruled out cuts in the near term.

The S&P/ASX 200 index lost 0.3% to 7,657.7 by 0027 GMT.

The benchmark lost most of its gains from Tuesday to recoup steep declines triggered by a global sell off earlier this month.

The Aussie dollar fell 0.05% to A$0.65 against the US dollar.

The Reserve Bank of Australia held interest rates steady for a sixth straight meeting on Tuesday and ruled out the possibility of a rate cut this year, citing inflation risks.

Heavyweight mining sector lost 0.5% on Wednesday, hit by falling iron-ore prices.

Mining behemoths BHP Group, Rio Tinto and Fortescue lost between 0.6% and 1.1%.

Rate-sensitive financials dropped by 0.4%, with shares of three of the “big four banks” down between 0.4% and 0.8%. Gold stocks fell 0.9% on weak bullion prices.

Shares of gold miners Northern Star Resources and Evolution Mining were down 0.6% and 0.8%, respectively. Overnight, the US Dow Jones Industrial Average rose 294.39 points, or 0.76%, at 38,997.66.

The S&P 500 gained 53.70 points, or 1.04%, while Nasdaq rose 166.77 points, or 1.03%.

Australian shares hit record high; RBA cautious on inflation

Brent crude futures fell 0.3% to $76.25 a barrel, while US West Texas Intermediate (WTI) crude lost 0.37% to $72.93 per barrel.

Energy stocks rose 0.5%, boosted by higher oil prices.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.4% to 12,299.32.

Data showed that country’s jobless rate increased in the second quarter, reducing capacity pressure in the labour market.

An easing in tight labour market conditions will be good news for the Reserve Bank of New Zealand.

Comments

Comments are closed.