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The ASX200 has been down 1.1% at 8,162 points in afternoon trade.
The Australian wage price index increased 3.5% YoY and only 0.8% in the September quarter. However, this was due to a distorting effect caused by the introduction of minimum wage increases a year ago.
The Financials sector has been the worst performer, down, 1.7%, followed by Health Care, down, 1.4% and Telecommunication, down, 1%.
Company News
Wisetech (ASX:WTC) has been up 0.5% despite the launch of a class action against the software solutions company. The plaintiffs allege the company failed to inform the market of expected shortfalls in earnings in August 2019.
Wisetech has been $132.60.
Mineral Resources (ASX:MIN) has been down 5.3% on news it will temporarily mothball its Bald Hill lithium mine in WA. The move affects 300 jobs, as the ongoing slump in lithium prices continues to impact the industry.
Mineral Resources has been $35.65.
And BlinkLab (ASX:BB1) has been down 8.2% on news it’s part of a Monash Uni-based study examining its tech’s ability to diagnose autism and ADHD.
BlinkLab has been 28 cents.
That’s market update we’ll see you again later for market close.
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