ASX 200 closed down 43 points to 7312 (-0.6%), sliding for a second straight session, tracking losses on Wall Street overnight. Tech led the laggards today, XRO -2.7%, REA -0.8% SQ2 -1.9%. All-Tech index down 1.0%. Iron ore miners slipped, tracking the softening price in Asia. BHP down 1.2%, RIO off 1.7% and FMG down 1.3%. Big four banks are all down. CBA -1.0%, NAB -0.6%, ANZ -0.4% and NAB -0.6%. Big Bank Basket down to $177.55 (-0.8%). Energy stocks struggled, WDS -0.7% and BPT -1.2%. Lithium stocks mostly down, MIN -0.6%, AKE off 1.6%, but PLS bucked the trend, up 1.4%. Healthcare had a bad day, but insurers found some support, QBE +1.2%, SUN +0.7% and IAG up 1.9%. Consumer discretionary/mum & dad stocks mixed WES off 0.3%, JBH down 0.9%, and QAN -1.1%. REITS weakened SCG off 1.1% and VCX down 1.0%. In corporate news, JHX down 2.8% on a new deal with US builder D.R. Horton, DOW -3.8% will recognise a $549m impairment in its upcoming financial results, BGL +3.1% reported “exceptionally high grade” gold hits in its drilling program, LNK -2.7% despite anticipating a 4.5% rise in revenue and EBIT surpassing guidance range. In economics, Australia’s trade surplus widened to a three-month higher of $11.3bn in June from a downwardly revised $10.5bn. Retail turnover fell by 0.8% MoM, marking the second time a drop in retail trade so far this year, as cost of living pressures weigh on consumer spending. Caixin China General Composite PMI fell to 51.9 in July the seventh straight month of growth in private sector activity but the softest pace since January. Asian markets mixed, Japan extending losses from the previous session, down 1.5%, HK and China up 0.5%. Australian bond yields higher, 10Y yield up 8bps to 4.10%. Dow Jones futures up 20 points, and Nasdaq futures down 18 points.

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