At closing bell, the benchmark S&P/ASX200 was down 27.14 points, or 0.37%, to 7,359.04. The broader All Ordinaries declined 32.84 points, or 0.43%, to 7,600.55.

Sectors ended mixed. Total 6 of 11 sectors were lower along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining +1.26%, followed by financial up 0.8%. Telecommunication service was worst performing sector, falling 1.94%, followed energy (down 1.87%), materials (down 1.8%), consumer staples (down 1.51%), real estate (down 1.45%), and utilities (down 1.11%) sectors.

The best performing stocks in the S&P/ASX200 were NUIX (up 6.15%), Netwealth Group (up 5.2%), Computershare (up 4.8%), Austal (up 4.5%), and Bank of Queensland (up 3.34%), while the worst performing stocks were Whitehaven Coal (down 11.52%), Redbubble (down 7.89%), Northern Star Resources (down 7.57%), OZ Minerals (down 4.7%), and Evolution Mining (down 4.67%).

Australian stocks commenced trading with back footing, as investors rushed to sell on tracking negative lead from Wall Street overnight after sentiment was chilled by Fed policymakers at their meeting through Wednesday newly projecting rate hikes in 2023, compared with their previous forecasts that there would be no hike at least until 2024. Tightening concerns were also fueled by Fed Chairman Jerome Powell's remarks at a news conference held after the Federal Open Market Committee meeting that discussions about tapering quantitative easing were held at the policymaking meeting.

ECONOMIC NEWS: Australia's employment increased by 115,000 people from April to May, the country's Bureau of Statistics said Thursday.

CURRENCY NEWS: The Australian dollar changed hands at $0.762, lower than levels above $0.77 seen earlier in the week.

Powered by Capital Market - Live News