Neutral
ASX 200 closes at 9,006, down 0.2%, amid concerns over potential RBA rate hike.
The S&P/ASX 200 index declined by 0.2% to close at 9,006 on Friday, reversing early gains. This downturn was driven by stronger-than-expected Q2 GDP data, which reignited concerns that the Reserve Bank of Australia (RBA) may implement another rate hike later this month. Investors also remained cautious ahead of key economic releases from China, Australia's largest trading partner, including August CPI, PPI, and trade figures due next week.
Key points
- Stronger-than-expected Q2 GDP data reignites rate hike concerns.
- Investors cautious ahead of upcoming Chinese economic data.
- U.S. payrolls report due, adding to market uncertainty.
Sources
AI-generated from public news sources. Not financial advice.
