Aust shares pare losses by close -29 June 2022

The Australian share market pared some of its heavy losses as buying emerged in beaten down shares, but still ended lower amid renewed concern about a global recession.

The benchmark S&P/ASX200 index ended 63.4 points, or 0.94 per cent lower, to 6,700.2 on Wednesday.

The broader All Ordinaries lost 75.5 points, or 1.09 per cent, to settle at 6,877.9.

Most of the losses were concentrated in the mining, tech and utilities sectors but a late recovery in select financial and energy stocks helped the indices rebound from the sessions lows.

Meanwhile, the Australian dollar slipped to 68.94 US cents by 1620 AEST after robust retail sales data for May, down from 69.55 US cents at Tuesday’s close.

Prashant Mehra
(Australian Associated Press)

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