Australian shares dropped, weighed by tech losses. The index ended the week 0.9 lower in the second consecutive week of losses.
Aurizon’s gains helped contain heavy losses on the Australian sharemarket on Friday amid a global sell-off on fears that higher interest rates will tip the world economy into recession.
Tech stocks were among the hardest-hit, mirroring a sharp decline on Wall Street, down 2 per cent. Fintech giant and Afterpay parent Block, formerly Square, was the second-biggest laggard on the index with a 6.2 per cent tumble to $96.50. Dexus stock gained 1.8 per cent to $8.21. The real estate company said its assets lost 1.9 per cent or $322 million of their value in the past six months.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX LIVE: Australian shares to fall, US stocks drop on higher rate forecastsAustralian shares are set to open lower. US stocks swing wildly in frantic trading. Jerome Powell says Fed not close to ending its rate-rising cycle.
Read more »
ASX LIVE: Australian shares to plunge, Dow tumbles as soft landing hopes fadeASX to drop amid a global share sell-off. Central bankers press fight versus inflation with higher rates. $A slides. Tech stocks hit in New York.
Read more »
ASX LIVE: Australian shares to fall, US stocks drop on higher rate forecastsAustralian shares are set to open lower. US stocks swing wildly in frantic trading. Jerome Powell says Fed not close to ending its rate-rising cycle. Woolworths buys stake in Petspiration. AU labour force ahead. Follow for updates.
Read more »
Aurizon, Spark deliver year-end deals for Macquarie, Goldman, BoAMacquarie Capital’s bankers have ruled off two big deals, just in time for Christmas.
Read more »
ASX futures lower, Fed decision awaited, bitcoin tops $US18,000Australian shares are set for the moment to open lower. Fed statement expected at 6am AEDT. Dow paces gains in New York.
Read more »