The S&P/ASX 200 Index fell 0.53% to close at 6,993 on Wednesday, retreating from two-month highs, weighed down by sharp losses in technology stocks as well as a2 Milk after the US FDA deferred its request to import infant milk formula products into the US. The dairy producer’s shares sank 6.9% and 7.5% at the Australian and New Zealand exchanges, respectively. Australian technology firms also tracked their Wall Street peers lower, with sharp losses from Computershare (-4.8%), Block Inc (-6%) and Xero (-3.8%). Mining, energy and clean energy-related stocks mostly declined as well on weaker commodity prices. Elsewhere, Commonwealth Bank of Australia eased 0.3% even after posting strong annual earnings, as the lender warned of easing consumer demand as borrowing costs rise.
Historically, the Australia Stock Market Index (AU200) reached an all time high of 7632.80 in August of 2021. Australia Stock Market Index (AU200) - data, forecasts, historical chart - was last updated on August of 2022.
The Australia Stock Market Index (AU200) is expected to trade at 6851.44 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6381.39 in 12 months time.