Australian shares snap five-week winning streak
Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations.
The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8.
The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks.
Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows.
The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback.
Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations.
The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8.
The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks.
Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows.
The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback.
Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations.
The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8.
The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks.
Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows.
The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback.
Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations.
The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8.
The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks.
Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows.
The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback.
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