22.10.202605:59:57UTC+00ASX 200 Closes 0.4% Lower

The ASX 200 slipped 38 points, or 0.4%, to close at 8,793 on Thursday, wiping out the modest gains from the previous session as U.S. stock futures softened on the back of higher oil prices and growing unease over AI-related investment. Sentiment was further constrained by caution ahead of Australia’s flash October PMI release on Friday.

Adding to the cautious tone, Reserve Bank Deputy Governor Hauser noted that inflation remains more persistent than anticipated, with headline CPI at 4% in September, bolstering expectations of another rate hike in November.

Sector-wise, consumer discretionary, mining, and energy names led the declines, while strength in logistics, transport, and utilities helped cap broader losses. BHP Group dropped 2.3% amid operational disruptions at key assets, including the Escondida mine in Chile. Woodside Energy retreated 3.2%, Wesfarmers fell 2.9%, and BlueScope Steel slipped 1.4%.

Codan Ltd. sank 7.4% following an off-market block trade worth AUD 312 million, reportedly involving the sale of around 23% of the stake held by its largest individual shareholder.