- The Australian sharemarket opened flat on Tuesday even as the S&P 500 and the tech-heavy NASDAQ closed at record highs overnight.
- The benchmark index was trading weak due to negative sentiment around coronavirus-induced lockdowns across the country.
- By 10:30 AM (AEST), the ASX 200 was trading 0.67% lower, at 7,258.
The Australian sharemarket opened flat on Tuesday after the S&P 500 and the tech-heavy NASDAQ closed at record highs overnight. The benchmark ASX 200 was started the session 0.70 points higher, at 7,308.
By 10:30 AM (AEST), the ASX 200 was trading 0.67% lower, at 7,258.
The ASX 200 index was flat at 7,307.3 points, with travel and technology stocks leading losses.
Meanwhile, on Wall Street, the Dow Jones fell 0.44%, while the S&P 500 gained 0.23%. The NASDAQ added 0.98%.
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What has happened so far?
The index has lost 1.14% for the last five days and sits 2% below its 52-week high.
The benchmark index was trading weak due to negative sentiment around coronavirus-induced lockdowns across the country.
The real estate sector fell given most since REIT stocks are ex-distribution today. Energy was down nearly 1.7%. Viva Energy dipped 2.6% and Beach Energy dropped 2.3%. Resources also fell over 1%.
Zip rose 3% and Afterpay added 2%.
Health Care and Industrials were up 0.3% and 0.9%, respectively.
The broader All Ordinaries index was down 0.64%, while the ASX 200 VIX Index was down 4.076%.
Source: ASX website; as of 10:30 AM (AEST)
Bonds and dollar
The Australian 10-year bond yield was trading 3.93% lower, at 1.491. The benchmark 10-year US bond yield was last down 5.4 basis points, at 1.4816%.
The commodity-price sensitive Australian dollar was trading 0.10% lower, at 0.7561. The US dollar index edged a little higher by 0.05%, to 91.898 on Monday.
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Crude oil prices fell as much as 2% to a one-week low in the overnight trade, after hitting their highest since 2018 earlier in the session. Brent futures fell US$1.50, or about 2.0%, to close at US$74.68 a barrel, while West Texas Intermediate (WTI) crude futures were down US$1.14, or 1.5%, to US$72.91.
While Brent oil futures were trading 0.03% lower, at US$74.04, WTI futures were trading 0.18% lower, at US$72.78.
On Monday, gold traded sideways as investors were caught between expectations of an early interest rate hike by Fed and fears of a surge in the highly contagious Delta variant of the coronavirus. The US gold futures closed the session 0.2% up, at US$1,780.70 an ounce.
Gold futures were trading 0.24% lower, at US$1,776.25.
The most active September month iron ore futures contract on China's Dalian Commodity Exchange ended 2.1% higher at 1,196 yuan (US$185.31) per tonne, up for a fourth straight session.
The benchmark three-month copper on the London Metal Exchange (LME) fell 0.2% to US$9,397.50 per tonne by 1620 GMT.
Copper futures were trading 0.17% lower, at US$4.2715.
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Medibank (ASX:MPL) announced a return of nearly AU$105 million in COVID-19 permanent net claims savings to customers through premium relief.
Genworth Mortgage Insurance (ASX:GMA) said that it was working with Commonwealth Bank of Australia to extend its lenders mortgage insurance (LMI) agreement beyond its current expiry in December 2022.
Kathmandu (ASX:KMD) said that the group total sales for the financial year 2021 would be lower-than-expected due to COVID-19 related challenges. The total sales would be AU$930 million and underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) was estimated at AU$120 million.
360 Capital (ASX:TGP) said that it has sold its entire stake in E&P Financial Group for AU$29.9 million.
The securities of Sayona Mining (ASX:SYA) will be placed in a trading halt, pending an announcement.