ASX finishes lower after choppy trade

August 3, 2022 - 2 weeks ago

The Australian share market finished below the waterline after a choppy session on Wednesday as market participants remain uncertain about the geopolitical tensions flaring after U.S. House of Representatives Speaker Nancy Pelosi visited Taiwan.

At the closing bell, the benchmark S&P/ASX 200 index ended lower after sliding -22.21 points, or -0.32%, to 6,975.9, while the All Ordinaries tumbled -13.5% points, or -0.19%, to 7,202.9, while our local currency, the Australian dollar, is currently buying US$0.6930.

Having ended a choppy ten-day bull run, the index took losses in nine sectors out of eleven, while only two settled in green, information technology and materials.

Woodside Energy gained +2.7% to $32.84, and Santos was up +1.1% to $7.38.

Origin Energy slid lower and lost -0.17% to $6.02, while Whitehaven Coal rebounded +1.26% to $6.42.

Titans BHP rose +0.08% to $38.61, Rio Tinto slid -0.51% to $96.80, while Fortescue Metals added +0.67% to $18.02.

Supermarket giant Woolworths slid -1.3% to $38.10, and telecom giant Telstra finished lower at $3.95, down -0.5%.

The “Fab Four” banks were weaker, with Westpac down -1.14% to $21.75 and CBA lost -1.5% to $100.47, while NAB fell -0.58% to $30.78, ANZ tumbled -0.44% to $22.71, and Macquarie Group Ltd fell -1.38% to $176.39.