Forex
Australian Sharemarket Set for Flat Start Amid Rate Hike Worries
The Australian sharemarket is set for a subdued start on Thursday, with futures pointing to a decline as investors weigh the prospect of another Reserve Bank of Australia interest rate rise.
The S&P/ASX 200 surrendered early gains on Wednesday to finish lower at 9,127.80 after hotter-than-expected inflation data revived expectations of an RBA rate increase.
Financial stocks weakened, with Westpac down 0.6%, ANZ losing 0.2% and Commonwealth Bank falling 1%. Technology was another major drag, led by WiseTech Global's 10.1% slump after reporting an 11% fall in full-year net profit.