BENGALURU: Australian shares traded marginally lower on Thursday, as losses in banks countered gains in commodity stocks, while minutes from the US Federal Reserve’s January policy meeting cemented views that policymakers are in no hurry to cut interest rates.
The S&P/ASX 200 index fell 0.1% to 7,600.0 by 0000 GMT, down for a third straight session. The benchmark fell 0.7% on Wednesday. Fed minutes showed that bulk of policymakers were concerned about the risks of cutting interest rates too soon, with broad uncertainty about how long borrowing costs should remain at their current level. In Sydney, the financials sub-index was down 0.2%. The “Big Four” banks fell between 0.2% and 0.4%.
The healthcare sector was flat, with index major CSL down 0.2%. Bucking the trend, miners gained 0.1%. Fortescue advanced as much as 3.2% after the world’s fourth-largest iron ore miner posted a 41% jump in half-yearly profit.
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