Australian shares drifted towards a fourth straight loss despite gains in Asia ahead of the resumption of US trade tonight.
The ASX 200 was 25 points or 0.4% lower at 6286 on below-average volume at the halfway mark with Wall Street trade suspended overnight for the Labor Day US holiday. Slender gains in the gold sector +0.7%, telecoms +0.3% and materials +0.1% were outbalanced by declines in IT -1%, energy -1% and financials -0.8%.
Asian markets recouped a portion of yesterday's losses, China's Shanghai Composite adding 0.12%, Hong Kong's Hang Seng 0.05% and Japan's Nikkei 0.23%. S&P 500 futures were recently ahead four points or 0.2%.
Crude oil futures put on 26 cents or 0.37% this morning to US$70.06 a barrel. Gold futures dipped $1 or 0.1% to US$1,206.60 an ounce. The dollar was buying 71.96 US cents.
Trading: took AGY at 20c. Was over-optimistic about the size of the post-dividend fall in WHC, so currently underwater. Glug glug.
