The ASX 200 slipped 11 points, or 0.1%, to finish at 8,720 on Thursday, extending earlier losses as weakness in technology, non-energy minerals, and industrial services dragged on the market. Initial declines, however, moderated after Australia’s September employment unexpectedly fell, which tempered expectations of further tightening by the Reserve Bank. The probability of a November rate hike dropped to below 20%, from around 35% earlier. Still, the jobless rate was unchanged at 4.7%, remaining at its highest level in nearly five years.
In the U.S., futures linked to the S&P 500 and Nasdaq retreated, following a sharp sell-off in technology shares and hotter-than-expected inflation data that reignited concerns over additional Federal Reserve rate hikes.
Among major movers, BHP Group fell 4.8% despite avoiding a strike at Escondida, the world’s largest copper mine. Other notable decliners included South32 (-5.7%), Goodman Group (-4.6%), Evolution Mining (-3.0%), and Northern Star Resources (-2.0%). In contrast, WiseTech Global climbed 2.9% after ASIC cleared founder Richard White and two employees in a year-long insider trading investigation, although a separate probe remains ongoing.
