Australia: Shares edge lower as lockdowns weigh

[BENGALURU] Australian shares inched lower on Friday as lockdowns in the country's two most populous cities soured investor sentiment, with heavyweight miners on track to snap a four-day gaining streak.

The S&P/ASX 200 index eased 0.2 per cent to 7,319.8 by 0107 GMT, but was set to post a weekly gain of more than 0.5 per cent.

Elsewhere, Japan's Nikkei fell 0.6 per cent and S&P 500 E-minis futures lost 0.1 per cent.

The state of Victoria was ordered into a five-day lockdown on Thursday following a spike in Covid-19 infections, joining Sydney as they battle an outbreak of the highly contagious Delta variant.

Miners fell 0.6 per cent with Rio Tinto and BHP Group shedding 1.1 per cent and 0.4 per cent, respectively.

The world's top iron ore producer, Rio Tinto, raised its full-year iron ore production cost guidance due to increased labour and input costs.

Buy now, pay later firms Afterpay and Zip were set for sharp weekly losses following a report earlier this week that Apple could enter the space in the United States.

Afterpay has lost 12.5 per cent so far this week, heading for its worst showing in more than two months.

Energy stocks tracked oil prices lower and were down 0.7 per cent.

Whitehaven Coal, however, jumped as much as 9.7 per cent and hit its highest since February last year. Citi Research lifted the coal miner's price target after it narrowly beat full-year coal production forecast on Thursday.

Healthcare stocks, which make a bulk of their earnings in US dollars, were among the few gainers on the benchmark index, as the greenback advanced overnight.

CSL, the country's biggest healthcare stock, added as much as 0.8 per cent.

New Zealand's benchmark S&P/NZX 50 index was flat at 12,670.74 points.

New Zealand's consumer price index beat expectations in the second quarter, soaring by its highest in about a decade, leading to more bets that the central bank may tighten policy as early as August.

REUTERS