ASX down, dollar stays above 79 US cents

asx down dollar stays above 79 us cents

Australia’s share market was lower and major sectors down after moderate moves on US markets earlier.

The S&P/ASX200 benchmark index was lower by 37.4 points, or 0.54 per cent, to 6801.8 at 1200 AEDT on Wednesday.

The All Ordinaries was lower by 37.2 points, or 0.52 per cent, at 7073.6.

The sizeable materials sector, which has climbed higher this week from increasing metals prices, fell 1.49 per cent.

Copper prices rose to a nine-year high but the pace of its gains slowed as stock markets fell.

Financials was down 0.26 per cent.

There were greater declines for the smaller sectors of telecommunications, 2.46 per cent, and information technology, 1.72 per cent.

In the US, the S&P 500 and Dow Jones had minor gains as investors favoured shares that stand to gain most as vaccine deployment allows economic restrictions to be lifted. The Nasdaq slipped by half a per cent…

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