Aussie shares drag as investors shrug off trade talks
Australian shares have continued their downward slide after the previous day's inflation surprise. -AAP Image
Australia's share market has sunk to two-week lows as positive headlines from US-China trade talks couldn't soothe investor disappointment over a gloomy outlook for interest rate cuts.Â
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The benchmark S&P/ASX200 fell 36.4 points on Thursday, down 0.41 per cent, to 8,889.8, as the broader All Ordinaries lost 36.6 points, or 0.39 per cent, to 9,182.5.
Seven of 11 local sectors finished the session lower as the consumer discretionary segment plummeted 3.8 per cent, while real estate plays, tech stocks and communications also sold off.
Good news was hard to find however, energy companies offered some support and health care stocks rebounded 1.9 per cent to snap a six-session losing streak.
The Australian dollar is buying 65.93 US cents, down from 66.01 on Wednesday at 5pm, after the Aussie spiked on the back of lower interest rate cut expectations.
