Half-time wrap:
Australian shares backed off record levels as a new quarter got underway, Israel sent troops into Lebanon and a four-day Chinese market holiday threw a brake on a recent recovery in mining stocks.
The ASX 200 dropped 62 points or 0.75% by mid-session. The materials sector was the biggest drag, sliding 2.23% towards its first loss in six sessions. Bulk metal miners BHP, Rio Tinto and Fortescue Metals all shed at least 2.3%, giving back a fraction of last week's gains, which followed a string of Chinese government stimulus measures.
The market was cushioned against a deeper fall by gains in CSL, Woolworths, Coles and other traditional defensives. The index's best performers were Sigma Health, REA Group and Deep Yellow.
Two of Wall Street's three leading stock benchmarks closed at records overnight as the curtain fell on a strong quarter. The S&P 500 and Dow both closed at new highs at the end of a quarter that saw them add 5.5% and more than 8%, respectively.
Personal trading: Traded FHE badly and took a hit. Traded SXG reasonably well and booked two wins. It was as if bad trading decisions were punished, and good decisions rewarded. Huh.
