News: BHP Australian shares snap winning streak ahead on U.S. inflation data

  1. 193,698 Posts.
    lightbulb Created with Sketch. 2825
    	  U.S. CPI data expected later in the day 
    

    	  Tech stocks hit lowest level since Oct 4 
    

    	  Origin Energy touches highest since Feb 2020 
    

    	  Energy index biggest laggard across benchmark  
    

    (Updates to close)

    Australian shares fell on Thursday, snapping a four-day winning streak, led by commodities and technology stocks amid fresh COVID-19 curbs in China, while investors maintained a cautious stance ahead of key U.S. inflation print due later in the day.

    The S&P/ASX 200 index (xjo) slipped 0.5% to 6964.0 at the close of trade. The benchmark closed 0.6% higher on Wednesday.

    The broader Australian market tracked Wall Street lower as investors focused on the upcoming inflation data that could provide clues on the U.S. Federal Reserve's rate-hike trajectory.

    "We'd need to see a much lower inflation print before being able to say with confidence that the big hikes are truly behind us," said Matthew Simpson, a senior market analyst with City Index.

    To recall, in the 12 months through September, the U.S. consumer price index (CPI) increased 8.2% after rising 8.3% in August.

    "The bigger risk here is that CPI could surprise to the upside today – and that will see expectations rise once more for a 75bp Fed hike," added Simpson.

    A top Australian central banker said they might be able to pause raising domestic interest rates soon, but more evidence was needed that demand was slowing as desired.

    Energy stocks .AXEJ fell 2.1%, following a dip in oil prices, on concerns that fresh COVID-19 restrictions in China will impact fuel demand.

    Heavyweights Woodside Energy (WDS) and Santos (STO) fell 2.2% and 1.6%, respectively.

    Shares of Origin Energy (ORG) jumped 34.8% after the country's no.2 power producer and energy retailer received a buyout offer from a consortium, valuing it at $11.83 billion.

    Mining .AXMM fell 1.3% after iron ore prices slumped on demand woes from top consumer China, with heavyweights BHP Group (BHP) , Rio Tinto (RIO) , and Fortescue Metals Group (FMG) falling between 0.5% and 2.2%.

    Tech stocks tracked sharp overnight losses on Wall Street to drop 1.9%.

    ASX-listed shares of Block Inc (SQ2) plunged to close 6.2% lower.

    Financials fell 0.9% with the "Big Four" banks losing between 0.3% and 2.2%.

    New Zealand's benchmark S&P/NZX 50 index (nz50) slipped 0.5% to finish the session lower at 11,091.93 points.

 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
$41.30
Change
0.840(2.08%)
Mkt cap ! $210.8B
Open High Low Value Volume
$40.89 $41.69 $40.77 $153.5M 3.713M

Buyers (Bids)

No. Vol. Price($)
22 5046 $41.30
 

Sellers (Offers)

Price($) Vol. No.
$41.31 2855 17
View Market Depth
Last trade - 11.18am 22/07/2025 (20 minute delay) ?
BHP (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.