ASX 200 LIVE: ASX rises; BHP, Rio Tinto, Fortescue rally; Magellan CEO steps down

📆 25/10/2023 8:54 AM

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📆 25/10/2023 8:54 AM
📰 FinancialReview

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Australia’s September quarter CPI reading beats economists forecasts. ASX swings into the red. Follow updates here.

A hotter-than-expected consumer price growth in the September quarter has triggered a sell-off in the Australian sharemarket. The S&P/ASX 200 had been trading around 0.4 per cent higher before the release of the data, but has now slipped 0.3 per cent lower to 6839.

9 points. Australia’s headline CPI rose 1.2 per cent in the September quarter compared to the previous quarter. The consensus among economists had predicted a 1.1 per cent quarter on quarter rise. The cash-rate-sensitive real estate sector is among the worst hit, down 1.4 per cent.

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