AU Evening Wrap: Australia Shares Fall 1.1% Amid Broad-Based Declines
Market Performance
Australia's $S&P/ASX 200(.XJO.AU$ closed 1.1% lower at 7727.6, to notch its fourth successive day of lower closes. All sectors fell, with consumer discretionary stocks leading the losses, falling 2.5%. Consumer staples and technology stocks closed 1.5% lower each. A selloff on Wall Street rattled the market, with banks losing ground.
The major lenders fell between 1.0% and 1.6%. $Macquarie Technology Group Ltd(MAQ.AU$ lost 0.8%. $Fletcher Building Ltd(FBU.AU$ was the worst performing stock, closing 6.1% lower.
Industrial stocks $Johns Lyng Group Ltd(JLG.AU$ and $Reliance Worldwide Corp Ltd(RWC.AU$ fell 3.0% and 2.4%, respectively. $NRW Holdings Ltd(NWH.AU$ offset some of its losses, closing 2.8% higher, to become the day's best performer.
The ASX 200 closed 1.1% lower for the week, the only negative weekly close in May.
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Source: Dow Jones Newswires, AFR, ASX
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