The ASX 200 fell by 0.19% on Tuesday morning, with the big four banks and tech stocks contributing to the losses. Uncertainty about the RBA interest rate trajectory adversely affected buyer demand for ASX 200-listed rate-sensitive stocks.
Australian news site news.com.au commented on the minutes, stating,
“The Reserve Bank has released the minutes from its June board meeting where it considered another rate hike. The discussion shows some storm clouds for homeowners.”
The S&P ASX All Technology Index (XTX) slipped by 0.03%, with National Australia Bank Ltd. (NAB) falling by 0.80%.
However, Gold and Oil-related stocks cushioned the losses. Evolution Mining Ltd (EVN) advanced by 1.75%, with Woodside Energy Group Ltd (WDS) rallying 2.30% on rising overnight gold and oil prices.
In conclusion, housing prices from China suggested policy measures from Beijing are effective. Fed rate cut bets also sent bullish signals for the Hang Seng Index. However, the ASX 200 will remain at the mercy of the RBA rate path, with the Nikkei in the hands of the Yen, the Bank of Japan, and the Japanese government.
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