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ASX falls 0.4% following higher-than-expected US inflation data

Shares rebounded on Thursday despite losses in technology and property sectors following higher-than-expected US inflation data, which led to a 0.4% decline in the S&P/ASX 200 index. The Dow Jones index also fell by 1.1% due to March’s 3.8% year-on-year increase in core prices, prompting concerns about inflation surpassing the Federal Reserve’s 2% target. Energy and materials were the only sectors to finish higher on the ASX, with oil and gas producers benefiting from reports of potential missile strikes in Israel, leading to a rise in Woodside and Karoon Energy shares. Traders’ concerns about delayed interest rate cuts in Australia drove real estate stocks lower, while government bond yields increased amid worries over US inflation.


The Dow Jones futures are pointing to a fall of 25 points.

The S&P 500 futures are pointing to a fall of 3 points.

The Nasdaq futures are pointing to a fall of 0.75 points.

The SPI futures are down 47 points.

Best and worst performers

The best-performing sector was Energy, up 1.2 per cent. The worst-performing sector was REITs, down 1.82 per cent.

The best-performing large cap was Computershare (ASX:CPU), closing 4.45 per cent higher at $28.17. It was followed by shares in Pilbara Minerals (ASX:PLS) and Northern Star Resources (ASX:NST).

The worst-performing large cap was Sonic Healthcare (ASX:SHL), closing 3.97 per cent lower at $27.55. It was followed by shares in Technology One (ASX:TNE) and Cleanaway Waste Management (ASX:CWY).

Asian markets

Japan’s Nikkei has lost 0.35 per cent.

Hong Kong’s Hang Seng has lost 0.50 per cent.

China’s Shanghai Composite has lost 0.84 per cent.

Commodities and the dollar

Gold is trading at US$2,355.10 an ounce.

Light crude is trading $0.00 higher at US$86.22 a barrel.

One Australian dollar is buying 65.22 US cents.