Market Close 18 Oct 24: ASX back-pedals after China data-dump

The Australian market declined after mixed data from China today, Australia's largest trading partner. Despite reaching record highs earlier in the week, the market is set to lose those gains due to concerns over China's economic performance, particularly in property investment and GDP growth. Domestically, financials led sector gains, while energy and utilities suffered. Key stock movements included Regis Resources' gold-fuelled surge and Flight Centre’s sharp drop due to an uncertain outlook. Looking ahead, attention will focus on major earnings reports from Tesla and Amazon, along with local AGMs and quarterly updates.   The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.