Overview
- The S&P/ASX 200 fell 0.3% to 8,898.30 on Thursday after a 0.96% drop on Wednesday.
- Australian Bureau of Statistics data showed trimmed‑mean inflation at 3.0% versus a 2.8% forecast and headline CPI up 1.3% quarter‑on‑quarter versus 1.1% expected.
- Futures now indicate a hold at the Reserve Bank of Australia's November 4 meeting, with less than 7% of investors expecting a rate cut.
- Rate‑sensitive sectors led losses as real estate dropped 2.8% with Stockland down 4.3% and discretionary stocks fell 2.4% as JB Hi‑Fi slid as much as 7.4%.
- The Australian dollar hovered near 66 US cents as energy rose 0.7%, banks edged up 0.2%, and consumer staples were mixed with Woolworths higher and Coles lower.