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The ASX 200 slipped 20 points, or 0.2%, to finish at 8,633 on Thursday, giving back the prior session’s gains as weakness in consumer durables, logistics, and financials pressured the market. Sentiment was further dampened by mounting concerns over a slowing Australian economy after Westpac reported that home loan applications averaged 30,000 per month in the fiscal third quarter beginning in April, down from 33,000 in the previous quarter. The figures highlighted the drag from global uncertainty and recent domestic tax changes.
Losses were partly pared later in the session, supported by stronger U.S. stock futures after Washington announced that its strikes against Iran had concluded. Attention now turns to next week’s Reserve Bank of Australia meeting, with investors hoping policymakers will pause after delivering three rate hikes so far this year. Meanwhile, consumer inflation expectations eased to 5.5% in June, the lowest level since March.
Among major names, the four big banks declined between 1.1% and 2.1%. Other notable underperformers included Sigma Healthcare (-2.9%), Goodman Group (-2.8%), South32 (-2.3%), and Northern Star Resources (-1.2%).
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