Australian shares closed at a three-week low on Monday, with financial and mining stocks being the worst losers. Investors are worried about inflation figures in local and U.S. markets this week. The benchmark S&P/ASX 200 index closed 0.5% lower at 7,451.50, its lowest level since Dec. 19. November CPI and retail sales figures in Australia, as well as U.S. inflation data, are being closely watched. Financial stocks slipped 0.4%, while miners declined 0.9% to a three-week low. Technology stocks fell 0.8% to their lowest level in 4 weeks. Core Lithium topped losses on the benchmark index, declining 17.4% after it flagged an impairment charge related to its operations. New Zealand’s benchmark S&P/NZX 50 index edged down 0.1% to finish the session at 11,735.42. Risk-averse investors are preparing for potential interest rate cuts and hoping that key data releases this week are not so strong as to bring a potential hike from the RBA back into the picture. Full article available here.


>Source link>

>>Join our Facebook Group be part of community. <<

By hassani

Leave a Reply

Your email address will not be published. Required fields are marked *