Australia Stocks end softer

10 Aug 2022 , 04:22 PM

Australia share market finished session down on Wednesday, 10 August 2022, as risk sentiments weighed down by overnight falls in the technology-heavy Nasdaq index after U.S. semiconductor manufacturer Micron Technology warning that revenue in its fiscal fourth quarter could fall short of its guidance. Investors were also cautious ahead of the U.S inflation data later in the day to gauge the Federal Reserves stance on further monetary policy tightening. At closing bell, the benchmark S&P/ASX200 index was up 5.06 points, or 0.07%, to 7,020.62. The broader All Ordinaries index added 9.22 points, or 0.13%, to 7,259.52. Technology stocks tumbled on following sharp declines overnight in their Wall Street peers. ASX-listed shares of Block Inc fell 6.04%. Miners shares declined on falling iron ore prices as uncertainty over demand prospects in top steel producer China kept traders cautious. Iron ore behemoths BHP and Rio Tinto fell nearly 1.3% and 0.2%, respectively. Financial stocks jumped, with three of the big four banks ending in positive territory. Commonweath Bank of Australia slipped 0.3% after saying spiralling cost-of-living pressures had started to hit consumer confidence. CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 106.329, holding below the 106.5 level. The Australian dollar was at $0.6970. Powered by Capital Market – Live News