Miners, tech drag Australian shares lower; Woodside rally caps losses

Reuters
Oct 23
Miners, tech drag Australian shares lower; Woodside rally caps losses

Oct 23 (Reuters) - Australian shares fell for a second consecutive session on Thursday, dragged down by mining and tech stocks, although losses were tempered by a surge in Woodside Energy following fresh investment in its Louisiana LNG project.

The S&P/ASX 200 index .AXJO fell 0.4% to 8,993.5 by 0002 GMT. The benchmark closed 0.7% lower on Wednesday.

Technology stocks .AXIJ were among the top losers with a drop of 1.2% after three straight sessions of gains. U.S. shares closed lower overnight as a wave of mixed corporate earnings reports dampened sentiment. .N

Software services provider WiseTech WTC.AX dropped 1.3%, while Block's Australian shares XYZ.AX fell 2.3%.

Miners .AXMM fell 0.9% in what could be their second straight session of declines. The sub-index has gained 2% since the beginning of October, heading for a fourth straight monthly gain.

BHP Group BHP.AX and Rio Tinto RIO.AX fell 2.5% and 1.2%, respectively, on Thursday. Fortescue FMG.AX climbed more than 1% on record first-quarter iron ore shipments before trading flat.

Alcoa's Australia-listed shares AAI.AX were the top losers on the benchmark index with a drop of 3.9%.

Financials .AXFJ declined 0.7%, with Commonwealth Bank of Australia CBA.AX down 1.3% and Macquarie MQG.AX shedding 1.1%.

Energy stocks .AXEJ rose over 2% after oil prices extended gains overnight on the United States imposing Ukraine-related sanctions on Russia, targeting oil companies. O/R

Woodside Energy WDS.AX rallied more than 4% to its highest level since mid-September, after the oil and gas producer said U.S. pipeline operator Williams WMB.N would invest $1.9 billion in its Louisiana liquefied natural gas project.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 climbed 0.1% and was last trading at 13,318.66 points.

(Reporting by Sneha Kumar in Bengaluru; Editing by Subhranshu Sahu)

((Sneha.kumar@thomsonreuters.com))

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