Losses for lofty ASX, tech shares drop: Wednesday 28 July

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Steven Deare
(Australian Associated Press)

 

Australia’s share market eased from record highs the previous day, and a coronavirus lockdown extension for NSW dimmed investors’ mood.

The ASX200 on Wednesday had its biggest loss in more than a week and all share categories bar property were lower.

Information technology shares fell most, by 2.13 per cent, following losses on Wall Street.

Major categories financials and materials shed 0.88 per cent and 0.77 per cent respectively.

A four-week extension for the lockdown in Sydney and surrounds will hamper plenty of businesses in the short-term.

The benchmark S&P/ASX200 index closed lower by 52.1 points, or 0.7 per cent, to 7379.3.

The All Ordinaries closed down 54.4 points, or 0.71 per cent, to 7649.6.

The Australian dollar was buying 73.60 US cents at 1620 AEST, lower from 73.63 US cents at Tuesday’s close.

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