(RTTNews) – The Australian stock market is trimming its early losses in mid-market moves on Wednesday, but extending the losses in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 falling below the 8,750 level, with weakness across most sectors led by gold miners and technology stocks. Energy stocks were the only bright spot.
The benchmark S&P/ASX 200 Index is losing 66.90 points or 0.76 percent to 8,737.00, after hitting a low of 8,676.70 earlier. The broader All Ordinaries Index is down 75.20 points or 0.84 percent to 8,929.50. Australian stocks ended modestly lower on Tuesday.
Among major miners, BHP Group is losing almost 3 percent and Fortescue is slipping almost 1 percent, while Mineral Resources and Rio Tinto are down more than 2 percent each.
Oil stocks are mostly higher. Woodside Energy is advancing almost 4 percent, Origin Energy is gaining more than 1 percent, Santos is surging more than 5 percent and Beach energy is adding more than 3 percent.
In the tech space, Afterpay owner Block and Xero are down almost 1 percent each, while Zip is losing more than 2 percent, WiseTech Global is slipping more than 3 percent and Appen is declining almost 2 percent.
Among the big four banks, Westpac is declining almost 2 percent and National Australia bank is losing more than 1 percent, while ANZ Banking and Commonwealth Bank are down almost 1 percent each.
Among gold miners, Evolution Mining and Resolute Mining are losing more than 4 percent each, while Genesis Minerals is sliding almost 5 percent, Northern Star Resources is slipping almost 3 percent and Newmont is down more than 2 percent.
In the currency market, the Aussie dollar is trading at $0.693 on Wednesday.
