Australian shares extended their losses on Thursday to book a five-day losing streak as investors trimmed their bets on the timing of anticipated rate cuts.

The benchmark index, the S&P/ASX200 fell 0.6 per cent, or 46.6 points at the closing bell, to 7,346.5, dragged lower by the materials, energy and real estate sectors.

The broader All Ordinaries slipped a similar amount to 7,575.6.

Against the greenback, the Australian dollar was unchanged at the closing bell to buy US65.54c.

Overnight on Wall Street, stocks fell after US Federal Reserve governor Christopher Waller cautioned that any rate cuts this year would be “carefully calibrated and not rushed.”

Leave a Reply

Your email address will not be published. Required fields are marked *