The S&P/ASX200 closed lower Wednesday, dropping 18 points or 0.2% to 7,512
The S&P/ASX200 closed lower Wednesday, dropping 18 points or 0.2% to 7,512. Following a Labour day holiday rich with economic uncertainty, Wall Street closed mixed on timid trade, a mood that infected US exposed stocks here at home. Not the rest of Asia. All the major indices rose steadily, led by the Shanghai Composite up 1.5% while over in Singapore iron ore futures fell more than 4% as China looks to cut crude steel volumes. That hurt companies that like to dig stuff up - the goldies leading losses by sector - although consumer staples, real estate... companies starting with the letter A... the losses infected all corners of the bourse. Qube (QUB) gained an agri-terminal in Newcastle, that added 4.6%. Then there was Macquarie (MQG), up 4.5% on a wonderfully opaque update, full of foreboding on the outlook and deadpan in understating a looming half year profit of more than usual enormity.
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