Asia
Australian Shares Flat; BHP Group Files Environmental Permit Application to Reopen Chile Copper Mine
Australian shares closed flat with a negative bias on Thursday, while Asian markets saw a broad-based decline after Wednesday's Wall Street sell-off due to a fall in semiconductor shares.The S&P/ASX 200 Index was little changed to close at 8,715.20.On Wednesday, the S&P 500 fell 0.2%, and the Nasdaq Composite lost 0.7%, dragged down by a sell-off in semiconductor shares."The plunge in Asia semis today is more about a hangover from Wall Street," said Fabien Yip, a market analyst at IG, as quoted by ReutersMeanwhile, the US and Iran wrapped up a round of indirect talks on Wednesday with little sign of progress toward a lasting peace, instead discussing issues they said had already been settled under an interim agreement disclosed two weeks earlier, according to a Wednesday Reuters report.On the domestic front, Australia's goods balance recorded a seasonally adjusted deficit of AU$3.02 billion in May, down from a surplus of AU$1.38 billion in April, according to data published by the Australian Bureau of Statistics.Also, S&P Global Ratings expects a stable credit environment for Asia-Pacific sectors amid solid AI demand and the reopening of the Strait of Hormuz.Further, already restrictive financial conditions in Australia are expected to tighten even more, which will weigh on demand and possibly stop the Reserve Bank of Australia (RBA) from hiking interest rates any further despite inflation remaining above target, BofA Securities said.In company news, BHP Group (ASX:BHP) has filed an environmental permit application to reopen the Cerro Colorado copper mine in Chile.Northern Star Resources (ASX:NST) appointed Suresh Vadnagra as chief executive, succeeding Stuart Tonkin, effective Oct. 5Xero (ASX:XRO) is integrating with Microsoft 365 to make its real-time financial data more accessible to small businesses and accountants.
ASX 200ASX:BHPASX:NSTASX:XRO
