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The ASX200 closed down about a third of a per cent.
The IT and Energy sectors suffered the most, each down about 1.5%, while Telecommunications was the best performer, managing a rise of nearly 0.7%.
Iron ore prices in Singapore slipped below the US$105 per tonne mark, influenced by disappointing economic data from China. This downturn had a knock-on effect on shares of major players like BHP and Rio Tinto.
China’s ongoing struggle to stimulate its property sector was underscored by the latest house price data, reflecting broader economic challenges.
In the Green
Tabcorp Holdings (ASX:TAH) ended the day up three quarters of a per cent, on former AFL boss Gillon McLachlan being appointed as Managing Director and CEO effective from early August.
Mr McLachlan was CEO of the AFL for about a decade.
TAH closed at 66 cents.
Lithium Plus Minerals (ASX:LPM) surged nearly 15% after lodging a Mining Lease Application for its wholly owned Lei Lithium Deposit in the Northern Territory.
The deposit boasts a Mineral Resource Estimate (MRE) of over 4 million tonnes at 1.43% Lithium oxide.
LPM closed the day at 15.5 cents.
Emmerson Resources (ASX:ERM) shot up more than 25% on news its joint venture partner, Tennant Consolidated Mining Group, has commenced construction of the Nobles gold processing facility in Tennant Creek.
Construction and commissioning are expected to be completed in the second quarter next year.
ERM closed the day at 5.4 cents.
In the Red
As mentioned BHP (ASX:BHP) fell today on that iron ore pricing news out of Singapore.
BHP lost nearly 1.3% to close at $42.54.
Lithium exploration and development company, Winsome Resources (ASX:WR1) dropped 16% after capital raising.
It’s raised A$25 million to advance the Adina Lithium Project.
WR1 closed the day at 81 cents.
And, Australian Gold and Copper (ASX:AGC) dropped nearly 25% on the results from the final six holes of a recent nine-hole drilling program at the Achilles project in NSW.
AGC the day at 30 cents.
