The Australian share market eased slightly on Thursday, retreating from record highs reached in the previous session, as investors took profits in major sectors and digested several company updates.
The benchmark S&P/ASX 200 Index edged down 12.3 points, or 0.1%, to 8,831.4, with six of the 11 industry sectors closing in the red.
Healthcare stocks led the losses, with CSL down 1.5%, ResMed falling 2.1%, and Ramsay Health Care declining 1.2%.
Industrials also declined, with Brambles down 3.3%, Transurban falling 0.9%, and Computershare trading 1.3% lower.
The Information Technology sector defied the broader trend, supported by overnight gains on Wall Street where the Nasdaq rose 1.2%.
WiseTech Global climbed 0.9%, and TechnologyOne added 0.8%.
Consumer Discretionary performed well amid growing expectations that the Reserve Bank of Australia will cut rates at its policy meeting next week.
Wesfarmers rose 0.7%, Aristocrat Leisure gained 1.5%, and JB Hi-Fi gained 1.8%.
However, the Financial sector dragged, with investors locking in gains. Commonwealth Bank fell 0.5%, National Australia Bank dropped 0.4%, while Westpac ticked up by 0.2%.
Among individual companies, ASX Ltd plunged 8.6% after Treasurer Jim Chalmers signalled the government would seek to end the exchange’s monopoly.
The exchange operator also revealed it expects to incur $25 million to $35 million in costs stemming from the ASIC compliance inquiry.
TPG Telecom closed 0.8% higher following a sharp fall on Wednesday, which came after confusion over the announcement of TPG Capital Asia’s $651 million takeover bid for Infomedia, mistakenly linked to the wrong ticker.
Westgold Resources surged 5.1% after forecasting improved gold output of between 345,000 and 385,000 ounces in the current financial year, citing the benefits of mine and mill upgrades.
Light & Wonder slipped 2% after reporting second-quarter results, confirming plans to delist from the Nasdaq and consolidate under a single ASX listing, following months of review.
Neuren Pharmaceuticals rose 3.2% after its U.S. partner Acadia Pharmaceuticals reported strong Q2 results for DAYBUE, a treatment for Rett syndrome.
On the bond markets, 10-year and 2-year rates were 0.3% and 0.6% lower at 4.246% and 3.338%, respectively.
