Australian shares fell to a three-week low, reflecting weakness in New York, as investors awaited local inflation data for clues on interest rates. Mining giants, including BHP, Fortescue, and Rio Tinto, weakened following a decline in iron ore futures in Singapore overnight.
At 11:35am, the S&P/ASX 200 is 0.94 per cent lower at 7,693.80.
The SPI futures are pointing to a fall of 57 points.
Best and worst performers
All sectors are in the red. The sector with the least losses was Energy, down 0.18 per cent. The worst-performing sector is Consumer Staples, down 1.7 per cent.
The best-performing large cap is Fisher & Paykel Healthcare Corporation (ASX:FPH), trading 6.72 per cent higher at $27.16. It is followed by shares in Alumina (ASX:AWC) and Mercury NZ (ASX:MCY).
The worst-performing large cap is Treasury Wine Estates (ASX:TWE), trading 3.14 per cent lower at $11.255. It is followed by shares in Aristocrat Leisure (ASX:ALL) and Qantas Airways (ASX:QAN).
Commodities and the dollar
Gold is trading at US$2381.60 an ounce.
Iron ore is 1.0 per cent lower at US$117.85 a tonne.
Iron ore futures are pointing to a 1.8 per cent fall.
One Australian dollar is buying 66.57 US cents.