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US stocks have slumped as investors dumped shares of companies in growth and cyclical sectors, with energy and technology leading declines, on fears that the escalating US-China trade war will stymie global economic growth.MORE >
The Australian share market has closed lower for the first time in seven days following losses by the mining, energy and financial sectors.
Thursday 23rd May, 2019
The ASX200 index finished 18.9 points, or 0.29 percent, to 6,491.8 points, while the broader All Ordinaries was down 13.8 points, or 0.21 percent, to 6,584.3.
The energy sector was the biggest loser, down 1.26 percent, after oil prices dropped following an unexpected rise in US crude inventories. Woodside Petroleum was down 1.1 percent to $36.99, Oil Search fell 1.8 percent to $7.58 and Santos was down two percent to $7.21.
The financial sector was down one percent as a whole, with all of the big banks in the red following a strong performance earlier in the week. Westpac was down 2.26 percent to $28.16, Commonwealth Bank was down 1.1 percent to $78.15, ANZ dropped 1.6 percent to $27.94 and NAB was down 1.4 percent to $25.78. Miners were also down following a drop in metal prices, with BHP falling two percent to $37.32 and Rio Tinto down 0.7 percent to $100.98.
Other sectors were positive, with tech stocks up 1.6 percent and consumer discretionary shares up two percent. Pokies manufacturer Aristocrat Leisure was the best performer on the ASX200, up 7.1 percent to $28.40 after lifting its first-half profit 15 percent to $356.5 million. Wesfarmers gained 1.56 percent to $37.70 after entering into a scheme implementation deed to buy lithium miner Kidman Resources for $1.90 per share.
The Aussie dollar continued to slip, buying 68.70 US cents, from 68.79 US cents on Wednesday.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6871||-0.0006||-0.08|
|$A vs GBP||0.5448||
|$A vs EUR||0.6167||0.0003||0.04|
|$A vs YEN||75.72||-0.08||-0.10|
|$A vs $NZ||