Australia Market extends losses

The Australian share market finished session lower on Monday, 23 December 2019, as greater optimism for U.S.-China relations countered by profit taking ahead of the year-end holiday, with materials, healthcare, and financial issues being notable losers. At closing bell, the benchmark S&P/ASX200 index decreased by 31.18 points, or 0.46%, to 6,785.14, while the broader All Ordinaries fell 29.69 points, or 0.43%, to 6,894.76.

Mining stocks weighed heavily on the losses as the big players all sunk. BHP ease 1.3% and Rio Tinto dropped 1.6%. The health care sector pulled the market down further. CSL declined 1%. Cochlear lost 0.9%.

Banks and financials were also lower, with Commonwealth Bank was the worst of the big four for the second session in a row and declined 0.5% to $80.84 per share. ANZ eased 0.3% as NAB and Westpac fought to stay out the red but posted slight losses. NAB closed 0.2% red, while Westpac lost 0.08%.

The technology sector helped fend off the worst of the losses, however, as Xero gained a healthy 3.4% and hit a new all-time high. Afterpay gained 0.7%, while WiseTech started the week poorly and lost 1.2%.

Retail stocks were higher. Woolworths gained 0.86%, Coles 0.46%, and Wesfarmers 0.17%.

ECONOMIC NEWS: Australia Private Sector Credit Up 0.1% In November-- Australia private sector credit was up a seasonally adjusted 0.1% on month in November, the Reserve Bank of Australia said on Monday, unchanged from the October reading. On a yearly basis, credit rose 2.3%, down from 2.5% in the previous month.

CURRENCY NEWS: The Australian dollar, sensitive to shifts in broader risk appetite, inclined against greenback. The Australian dollar changed hands at $0.6908, strengthening from an earlier low of 0.6886.

Powered by Capital Market - Live News