TGIF RIP BNPL 🥳

A soft end to a soft week as concerns over the health of China’s property sector flared again. Selling across the resources sector was brutal, mirroring the moves in commodity futures. It didn’t matter if they were big or small, diversified or pureplay: almost everything was hammered. BHP, Fortescue and Rio Tinto fell 3.8%, 5.9%, and 2.6% respectively, the latter outperforming following the release of its quarterly production report. Second-tier names were hit even harder with the likes of IGO, Mineral Resources and Sandfire Resources falling more than 5%. Healthcare and consumer staples led the way, lifting 1% apiece thanks to gains of more than 1.8% for names such as Cochlear, Resmed, Metcash and Coles. WiseTech Global was a standout, putting on 3.2% after upgrading earnings guidance. The benchmark index finished trade down 0.68%. For the week, it lost 1.1%, or 72.4 points, to close at 6605.6.

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