Globally, investors stayed on the sidelines after a modest growth in initial jobless claims in U.S. indicated that demand was slowing, which could lead to a recession risks later in the year. Back in Sydney, the mining index led declines, falling about 1.4% after China iron ore prices took a hit due to concerns over demand recovery in the top steel producer. Sector heavyweights BHP Group , Rio Tinto and Fortescue Metals dropped between 1.2% and 1.7%.
Similarly, energy stocks were pressured by weak Brent crude prices overnight, with Woodside Energy and Santos slipping 1.1% and 0.6%, respectively.
On the bright side, financials gained about 0.3%, with the country's four largest banks trading higher in the range of 0.3% to 1%. The healthcare and the technology indexes added 0.3% and 1.2% respectively.
Newcrest Mining fell about 1.8% after Australia's biggest gold miner said it had extended the exclusivity period by a week for Newmont Corp to complete its due diligence on its A$29.4 billion ($19.94 billion) final takeover offer for the company.
New Zealand's benchmark S&P/NZX 50 index inched up 0.1% at 11,895.5.
($1 = 1.4743 Australian dollars)
(Reporting by Archishma Iyer in Bengaluru; Editing by Rashmi
Aich)
U.S. earnings diary Wall Street Week Ahead Global Economy Week Ahead ................................................................ For latest top breaking news across all markets ))
