| Australia’s ASX 200 declined 37 points, or 0.4%, to settle at 8,665 on Friday, registering a second consecutive decline. Investor sentiment remained guarded in anticipation of next week’s Reserve Bank of Australia (RBA) policy decision.
Elevated inflation has fueled anticipations of additional interest-rate adjustments following three prior increases this year. Market participants are also assessing forthcoming August inflation data, subsequent to a July figure that exceeded consensus forecasts and remained above the RBA’s 2–3% target range.
August employment data presented a bifurcated picture. The unemployment rate edged up to a near five-year high of 4.6%, while employment advanced by a greater-than-anticipated margin.
Equities across most sectors registered declines, with technology, consumer services, and logistics shares exhibiting the most significant weakness. Mineral Resources retreated 4.8%, PLS Group decreased 3.7%, REA Group fell 3.2%, and Xero depreciated 2.8%. |