%Mid-Market: S&P/ASX 200 Trading Lower; Dragged Down By Tech Sector

On 11 December 2024, at AEDT 12:30 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 37.40 points or 0.45%, and is currently trading at 8,355.60 levels. Out of 11, 10 sectors are trading lower along with loss in the S&P/ASX 200.

The A-REIT sector is the only gaining sector, gaining 0.39% in its index value. On the other hand, Information Technology and Industrials sectors are the top 2 declining sectors, declining 0.92% and 0.91% in their index values.

The Star Entertainment Group Limited (ASX: SGR) and Neuren Pharmaceuticals Limited (ASX: NEU) are the top-gaining stocks, gaining 5.555% and 4.317% in their stock prices. On the other hand, South32 Limited (ASX: S32) and Cleanaway Waste Management Limited (ASX: CWY) are the top-losing stocks and are declining by 4.484% and 2.483% in their stock prices.

Factors influencing the market-

• Australian shares are declining near midday, tracking weakness in New York, as a wave of profit-taking, sparked yesterday, extends into a second session.
• South32 Limited’s shares are lower after revealing late yesterday that escalating civil unrest in Mozambique has slowed transport to and from the company’s operations.
• Oil prices rose in the previous session as markets looked to rising demand in China, the world's largest buyer, and possible tight supply in Europe this coming winter and away from the overthrow of Syria's president.
• The Dow has closed down by 0.35%, the S&P 500 closed down by 0.30%, and the NASDAQ ended lower by 0.24%.
• Hang Seng is down by 0.50%, and FTSE 100 is down by 0.86%.

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