The ASX experienced its second consecutive losing session of the new financial year, with the S&P/ASX 200 closing 0.4% lower due to interest rate concerns. The Reserve Bank of Australia's latest minutes revealed discussions on raising interest rates, causing a drop in interest rate-sensitive sectors such as real estate and major banks, while energy and coal stocks saw modest gains. Notable stock movements included Liontown Resources rising 7.3% after a funding deal with LG Energy Solutions and Bendigo and Adelaide Bank slipping 1% following the CEO's resignation announcement.
Futures
The Dow Jones futures are pointing to a fall of 58 points.
The S&P 500 futures are pointing to a fall of 10 points.
The Nasdaq futures are pointing to a fall of 53.75 points.
The SPI futures are down 41 points.
Best and worst performers
The best-performing sector was Energy, up 2 per cent. The worst-performing sector was REITs, down 1.46 per cent.
The best-performing large cap was Whitehaven Coal (ASX:WHC), closing 5.66 per cent higher at $8.59. It was followed by shares in Woodside Energy Group (ASX:WDS) and EBOS Group (ASX:EBO).
The worst-performing large cap was Pilbara Minerals (ASX:PLS), closing 3.57 per cent lower at $2.97. It was followed by shares in Seven Group Holdings (ASX:SVW) and Mineral Resources (ASX:MIN).
Asian markets
Japan's Nikkei has gained 1.12 per cent.
Hong Kong's Hang Seng has gained 0.34 per cent.
China's Shanghai Composite has gained 0.83 per cent.
Commodities and the dollar
Gold is trading at US$2,339.10 an ounce.
Iron ore is 3.1 per cent higher at US$110.05 a tonne.
Iron ore futures are pointing to a 1.02 per cent rise.
Light crude is trading $0.09 higher at US$83.47 a barrel.
One Australian dollar is buying 66.42 US cents.
