FX.co ★ ASX 200 Extends Losses, but Still Set for Weekly Gain

The S&P/ASX 200 fell by 0.5% to 8,664 during Friday's morning trading session, continuing the downturn observed in the previous session. Nearly all sectors posted losses, with significant declines noted in materials, financials, and real estate sectors. Technology stocks also dipped, despite the Nasdaq and S&P 500 reaching new record highs overnight on Wall Street, buoyed by strong earnings from Alphabet. Investors remain attentive to the progress of U.S. trade discussions with key partners and upcoming negotiations with China in Stockholm scheduled for next week. A sense of caution is also present as market participants await Australia’s upcoming monthly and quarterly inflation data release next week, which could influence the Reserve Bank of Australia's monetary policy decisions. Among the weakest performers were Champion Iron (down 4.8%), Liontown Resources (down 3.7%), Cettire (down 2.9%), and Bellevue Gold (down 2.8%). For the week, the index is poised for a 0.3% increase, setting it up for a second consecutive weekly gain.