Aussie shares snap five-day winning streak
The Australian share market has ended its five-day record-breaking winning streak with a modest pullback.
The benchmark S&P/ASX200 index finished trade on Tuesday down 13.2 points, or 0.19 per cent, at 7,066.3 points, while the broader All Ordinaries index dropped 15.8 points, or 0.22 per cent, to 7,180.5.
Burman Invest chief portfolio manager Julia Lee said the market was "taking a bit of a breather" after the bull run which saw it set fresh all-time highs day after day.
With US markets shut on Monday for Martin Luther King Day, Chinese markets closed on Friday for Chinese New Year and the ASX shut next Monday for Australia Day, there was not a lot of liquidity in the market and traders were taking some risk off the table, Ms Lee said.
Small-cap stocks were particularly sold off, with the Small Ordinaries index of Australia's 200 to 300 biggest companies down 0.6 per cent, while ASX's 20 biggest companies collectively gained 0.05 per cent.
All but three of the ASX's 11 sectors were down, with the volatile tech sector falling the most, by 1.3 per cent, as WiseTech Global dipped 4.0 per cent and Xero dropped 1.5 per cent.
Consumer staples were the biggest winners, up 1.1 per cent, with Woolworths up 2.0 per cent to $40.01 and Coles up 1.3 per cent to $16.13.
Fortescue Metals gained 2.1 per cent to an all-time high $12.08 as the price of iron ore rose, while BHP dropped 0.1 per cent to $41.20 as the mining giant said smoke from the NSW bushfires had affected its coal production in December.
Rio Tinto was up 0.2 per cent to $106.45.
Goldminers rose as the price of the precious metal rose a third of a percentage point to $US1,565 an ounce, with Newcrest, Northern Star and Evolution up between 1.2 and 2.1 per cent.
Pact Group rose 3.4 per cent to $2.78 after the speciality packaging company said it would sell its contract manufacturing division.
Brisbane-based IT services company Data#3 rose 4.0 per cent after announcing its first-half profit after tax would be around $12.5 million, the top end of guidance.
Investment platform Hub24 fell 5.3 per cent after reporting $2.5 billion of first-half net inflows, apparently disappointing investors who were hoping for more.
Sydney Airport dropped three per cent to $8.72 after a broker downgrade following Monday's traffic update showing international passengers fell in December.
Even with the Tuesday's pullback, the ASX200 is still up 5.7 per cent for the year.
The Australian dollar meanwhile was buying 68.61 cents, down from 68.87 cents at Monday's close.
ON THE ASX:
* The benchmark S&P/ASX200 index closed down 13.2 points, or 0.19 per cent, at 7,066.3 points.
* The All Ordinaries was closed down 15.8 points, or 0.22 per cent, at 7,180.5 points.
* The SPI200 futures index was closed down 18 points, or 0.26 per cent, at 7,008 points.
CURRENCY SNAPSHOT AT 1630 AEDT:
One Australian dollar buys:
* 68.61 US cents, from 68.87 US cents on Monday
* 75.44 Japanese yen, from 75.87 yen
* 61.84 euro cents, from 62.04 cents
* 52.72 British pence, from 53.00 pence
* 103.93 NZ cents, from 103.98 cents
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