Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Australia shares track Wall Street lower; gold loses shine

09/27/2021 | 09:59pm EDT

Sept 28 (Reuters) - Australian shares fell on Tuesday as technology stocks tracked the overnight plunge in Wall Street's tech-heavy Nasdaq index, while a firmer U.S. dollar pushed domestic gold stocks to their lowest level in 1-1/2 years.

The S&P/ASX 200 index was down 0.62% at 7,338.50 points, as of 0100 GMT. The benchmark closed 0.57% higher on Monday.

Tech stocks dived 2.2% and extended losses to a third day after tracking Wall Street's Nadaq Composite Index lower with investors pivoting to value as tech shares, hurt by rising Treasury yields, weighed on equities.

Megaport fell 3.3% to lead losses in the tech index, followed by Appen that dropped 3.4%.

Sector heavyweight Afterpay fell as much as 0.8% to hit a near one-week low and was on track for a second consecutive session of losses.

Gold stocks dived as much as 3.1% to their lowest level since March 2020 after a stronger dollar and elevated U.S. Treasury yields made bullion less appealing for holders of other currencies.

Gold miners Ora Banda Mining and Evolution Mining slid 4.3% and 3.9%, respectively, to lead losses in the index.

The metals and mining index was down 1.4% after prices of industrial metals fell as power curbs in top consumer China continued to hit demand.

Mining heavyweights Rio Tinto, BHP Group and Fortescue Metals Group fell between 1.1% and 2.1%.

Energy stocks bucked the trend to gain up to 3.2%, hitting their highest level in more than two months on firmer oil prices.

Beach Energy rose 7.3% to lead gains in the index while sector heavyweights Whitehaven Coal and Woodside Petroleum were up 4.2% and 3.9%, respectively.

Financials climbed 0.4% with the "Big Four" banks gaining between 0.2% and 2%.

Elsewhere, Japan's Nikkei was down 0.6% at 30,054.01 points versus the previous session's close of 30,240.06 points.

Across the Tasman sea, New Zealand's benchmark S&P/NZX 50 index was down 0.1% at 13,221.30 points.

(Reporting by Tejaswi Marthi in Bengaluru, Editing by Sherry Jacob-Phillips)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -0.26% 126 End-of-day quote.6.78%
APPEN LIMITED 2.35% 10.91 End-of-day quote.-55.81%
BEACH ENERGY LIMITED -3.83% 1.38 End-of-day quote.-23.55%
BHP GROUP -2.16% 37.65 End-of-day quote.-11.27%
EVOLUTION MINING LIMITED 0.27% 3.77 End-of-day quote.-24.45%
FORTESCUE METALS GROUP LIMITED -0.69% 14.31 End-of-day quote.-38.92%
MEGAPORT LIMITED -2.50% 17.55 End-of-day quote.23.16%
NASDAQ COMP. -0.82% 15090.200353 Real-time Quote.18.06%
NIKKEI 225 0.34% 28804.85 Real-time Quote.4.96%
ORA BANDA MINING LIMITED -2.06% 0.095 End-of-day quote.-68.85%
RIO TINTO PLC 0.51% 4672.5 Delayed Quote.-14.58%
S&P 500 -0.11% 4544.9 Delayed Quote.21.13%
S&P GSCI INDUSTRIAL METALS INDEX -1.02% 501.4839 Delayed Quote.31.31%
S&P/ASX 200 0.00% 7415.5 Real-time Quote.12.58%
WHITEHAVEN COAL LIMITED -3.02% 2.89 End-of-day quote.75.68%
WOODSIDE PETROLEUM LTD -2.84% 23.27 End-of-day quote.2.33%
Latest news "Economy & Forex"
01:05aHong Kong banks to disclose related property of clients who breach security law
RE
12:50aTop oil exporter Saudi Arabia targets net zero emissions by 2060
RE
12:50aTop oil exporter Saudi Arabia targets net zero emissions by 2060
RE
12:47aBollywood stars, Indian celebrities launch NFTs amid global craze
RE
10/23UK plans 8 billion pounds of extra health and education spending
RE
10/23UK says substantial differences remain with EU over Northern Ireland trade
RE
10/23Tesla increases model 3 standard range plus price by $2,000 to $43,990 – company website
RE
10/23Tesla increases model y long range by $2,000 to $56,990 – company website
RE
10/23Tesla increases model s long range price by $5000 to $94,990 – company website
RE
10/23Tesla increases model x long range price by $5000 to $104,990 – company website
RE
Latest news "Economy & Forex"