Australia: Shares dragged lower by financials, tech stocks

[BENGALURU] Australian shares fell for a third straight session on Thursday, hurt by financials and tech sectors following a weak finish overnight on Wall Street, while resource-related stocks jumped on robust commodity prices.

The S&P/ASX 200 index was down 0.3 per cent at 7,332.5 points by 2355 GMT.

Wall Street's main indexes ended sharply lower, with the tech-heavy Nasdaq confirming it was in correction territory after a diverse set of corporate earnings.

Local tech stocks tracked their US peers lower by falling over 1 per cent to their lowest since May 21, with software firm Altium dropping 3.4 per cent to be one of the worst performers on the bourse.

Sector heavyweight Afterpay was suspended from trading on the ASX 200 on Jan 19 after its buyout by Block Inc became effective following receipt of all regulatory approvals.

Financials dropped to their lowest level in nearly a month, losing over 1 per cent, with major banks Commonwealth Bank of Australia and National Australia Bank shedding about 1.4 per cent to 1.7 per cent.

Energy stocks also declined 0.8 per cent, with Woodside Petroleum and Santos falling 1.7 per cent and 0.6 per cent, respectively, even after the country's top 2 independent gas producers posted strong quarterly numbers.

The gold sub-index, however, advanced more than 6 per cent, headed for its biggest jump since June 2020 after bullion prices rose on a weaker dollar.

Evolution Mining and Northern Star Resources were one of the top gainers on both the ASX 200 and the gold sub-index, jumping about 9 per cent each.

Miners were up 1.1 per cent, with top iron ore miner BHP Group rising about 1.4 per cent.

Global lithium supplier Vulcan Energy Resources added 1.2 per cent on expecting to be formally admitted to the Frankfurt Stock Exchange in the first half of February.

New Zealand's benchmark S&P/NZX 50 index slid 1.6 per cent to 12,612.3, with energy retailer Mercury NZ leading losses with its 2.6 per cent fall.

In other markets, the S&P 500 E-minis futures were down 7.75 points, or 0.2 per cent.

REUTERS