The ASX 200 closed at its lowest point since June on Friday, according to Market Index, with technology, lithium and wealth platform shares among the weakest performers. The decline left the index with a fourth straight losing week, a run SMH.com.au attributed to climbing bond yields.
Market Index reported that the session's losses were spread across several parts of the market rather than concentrated in one sector. Wealth platforms and lithium producers joined tech stocks in falling, it said.
The weekly slide fits a broader pattern of investor caution. AFR described inflation worries as driving the ASX into what it called a long September swoon, while Livewire Markets raised the prospect of a deeper sharemarket correction. ABC News reported that a Betashares strategist sees investors leaving the ASX to pursue growth opportunities offshore.
The material did not include specific index levels, percentage moves or individual stock prices, so the scale of Friday's decline could not be confirmed from the available reporting.
The Reserve Bank of Australia's next move on interest rates and the direction of global bond yields are likely to shape whether the market's September weakness continues into October.
