Australia’s ASX 200, having recovered late last week, is back under the cosh.
The index finished Wednesday’s session at 5,583.60, down 0.93%, with the close the lowest seen since January 29 this year. Having hit a high of 5996.9 back on March 3 this year, the index has now lost close to 7%.
Aside from the materials sector that added 0.5%, the losses were broad based with tech, healthcare, utilities, energy, consumer cyclical and financials all off by more than one percent.
Late in the session the index also tested its 200-day moving average, something it subsequently bounced off on this occasion.
So the index will be watched intensely closely tomorrow, particularly should we get another weak offshore session this evening.