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Australia shares slip as 'buy now, pay later' stocks extend losses

07/14/2021 | 09:26pm EDT

July 15 (Reuters) - Australian shares edged lower on Thursday as "buy now, pay later" stocks, including Afterpay , extended their fall to a second day on report of technology giant Apple Inc entering the sector.

The S&P/ASX 200 index slipped 0.1% to 7347.8 points by 0053 GMT. The benchmark ended 0.3% higher on Wednesday.

Elsewhere, Japan's Nikkei was down 0.4% and S&P 500 E-minis futures were down 0.1%.

Technology stocks fell as much as 1.6%, with aerial imagery firm Nearmap Ltd and software firm Nuix Ltd dropping 2.9% and 2%, respectively.

"Buy now, pay later" firm Afterpay Ltd dropped 3.7% and Zip Co Ltd fell as much as 4%, a day after a report said Apple could be set to enter the space.

Sydney Airport Holdings Pty Ltd fell as much as 1.9% after it rejected a A$22.26 billion ($16.6 billion) takeover proposal from a group of infrastructure funds.

Authorities are rushing to track close contacts of several positive COVID-19 cases in Victoria linked to Sydney's Delta variant outbreak amid concerns of a major flare-up in infections and further tough restrictions.

Miners, meanwhile, added 0.6% and were on track to record a fourth consecutive session of gains. Rio Tinto Ltd rose 0.4% ahead of its quarterly production report on Friday.

Gold miners gained on the back of higher bullion prices, with Newcrest Mining adding 0.7%.

Shares of Australia's top independent gas producer Woodside Petroleum dropped 1.7%.

Woodside reported a 67% increase in sales revenue for the second quarter, helped by higher realised prices for natural gas and oil as global demand recovers.

New Zealand's benchmark S&P/NZX 50 index was flat at 12,715.73, a day after the country's central bank announced a halt to its pandemic-induced quantitative easing programme.

(Reporting by Harish Sridharan in Bengaluru; editing by Vinay Dwivedi)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 0.43% 132.11 End-of-day quote.11.96%
APPLE INC. 0.06% 146.92 Delayed Quote.10.72%
LONDON BRENT OIL 0.42% 79.19 Delayed Quote.49.38%
NEARMAP LTD 0.00% 2.02 End-of-day quote.-9.01%
NEWCREST MINING LIMITED -2.49% 23.09 End-of-day quote.-10.43%
NIKKEI 225 -0.03% 30240.06 Real-time Quote.10.22%
NUIX LIMITED -2.31% 2.54 End-of-day quote.-69.21%
RIO TINTO PLC -0.61% 4795 Delayed Quote.-11.69%
S&P/ASX 200 0.57% 7384.2 Real-time Quote.11.47%
SYDNEY AIRPORT LIMITED 0.36% 8.27 End-of-day quote.29.02%
WOODSIDE PETROLEUM LTD 1.74% 22.17 End-of-day quote.-2.51%
WTI 0.24% 74.988 Delayed Quote.52.07%
ZIP CO LIMITED 2.34% 6.99 End-of-day quote.32.14%
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