The ASX declined further as weak consumer inflation data from China contributed to ongoing losses, with the benchmark S&P/ASX 200 index falling 0.54 per cent at 7,004, primarily driven by losses in most industry sectors.
China's unchanged consumer price index raised concerns about the potential risk of deflation.
Futures
The Dow Jones futures are pointing to a fall of 114 points.
The S&P 500 futures are pointing to a fall of 20.75 points.
The Nasdaq futures are pointing to a fall of 97.75 points.
The SPI futures are down 21 points.
Best and worst performers
The best-performing sector was Information Technology, up 0.2 per cent. The worst-performing sector was Consumer Staples, down 1 per cent.
The best-performing large cap was Northern Star Resources (ASX:NST), closing 1.8 per cent higher at $12.45. It was followed by shares in Mercury NZ (ASX:MCY) and Evolution Mining (ASX:EVN).
The worst-performing large cap was South32 (ASX:S32), closing 3 per cent lower at $3.56. It was followed by shares in Fortescue Metals Group (ASX:FMG) and Medibank Private (ASX:MPL).
Asian markets
Japan's Nikkei has lost 0.49 per cent.
Hong Kong's Hang Seng has gained 0.50 per cent.
China's Shanghai Composite has lost 0.13 per cent.
Company news
Forrestania Resources (ASX:FRS) has announced a JV with ALX Resources for the Hydra Lithium Project in Quebec, Canada. We heard from MD Michael Anderson this morning.” Shares closed 13.6 per cent higher at 12.5 cents.
Artemis Resources (ASX:ARV) has identified lithium bearing pegmatites on the Osborne Joint Venture in the West Pilbara region. Further work is planned on the JV tenement with sampling and mapping aimed at identifying the full extent of the mineralised pegmatite zone. Shares closed 5 per cent higher at 1.9 cents.
DevEx Resources (ASX:DEV) announced that their positive leaching testwork has confirmed significant ionic adsorption REE clays at their Kennedy Project in Queensland. Significant Tb and Dy grades are reported in several holes including those mentioned above for individual rare earth oxide values. Shares closed 1.85 per cent higher at 26.5 cents.
Commodities and the dollar
Gold is trading at US$1,925.10 an ounce.
Iron ore is 2.1 per cent lower at US$109.45 a tonne.
Iron ore futures are pointing to a 2.9 per cent fall.
Light crude is trading $0.60 lower at US$73.26 a barrel.
One Australian dollar is buying 66.50 US cents.
