ASX 200 Slips as Healthcare and Tech Drag on Inflation Fears
The Australian market closed lower on Friday, erasing some of Thursday's gains. The ASX 200 fell by 25 points or 0.3% to finish at 9,059. This drop was led by sectors such as healthcare, tech, logistics, and commercial services, which saw significant losses.
Nerves are high ahead of next week's inflation data release, with June's print still above the Reserve Bank's target band. Governor Michele Bullock recently warned that inflation remains elevated, citing upside risks from commodity volatility tied to the Middle East conflict.
Despite this caution, stronger US stock futures helped cap the weakness in local markets. Tech stocks, such as Wisetech Global and Nextdc, followed their Wall Street peers lower. However, Goodman Group, Wesfarmers, and Sonic Healthcare also suffered losses.
One notable exception to this trend was Guzman Y Gomez, which soared 11.5% after reporting a 29.7% profit jump.