Australian shares finished lower on Wednesday, with the benchmark S&P/ASX 200 shedding 1.26% at the close in Sydney to settle at 8,496.60, marking a fresh one-month low for the index.
Sector pressure came predominantly from Gold, Metals & Mining and Materials, contributing to the broad-based decline. The session saw more than three times as many fallers as gainers on the Sydney exchange.
Notable movers
Among individual stocks, Technology One Ltd (ASX:TNE) was the top performer on the S&P/ASX 200, finishing up 7.09% - a gain of 1.97 points - to close at 29.77. Stanmore Coal (ASX:SMR) added 4.40%, or 0.11 points, to end at 2.61, while Alcoa Corp DRC (ASX:AAI) rose 3.14% - up 2.73 points - to finish at 89.56 in late trade.
On the downside, Tuas Ltd (ASX:TUA) recorded the largest loss on the index, sliding 13.11% - down 0.35 points - to trade at 2.32 at the close. Guzman Y Gomez Ltd (ASX:GYG) fell 8.98%, a decline of 1.57 points, to finish at 15.91, and Greatland Resources Ltd (ASX:GGP) lost 5.87%, or 0.77 points, to end at 12.35.
By market breadth, falling issues outnumbered advancing ones by 855 to 274, with 384 stocks unchanged at the close.
Volatility and wider markets
The S&P/ASX 200 VIX, which tracks the implied volatility of S&P/ASX 200 options, increased 4.20% to 13.99, indicating a rise in expected near-term market volatility.
In commodities trading, Gold Futures for June delivery slipped 0.25% - down 11.35 - to $4,474.05 a troy ounce. Crude oil for July delivery fell 0.96%, a drop of $1.00, to $103.01 a barrel, while the July Brent contract declined 0.78% - down $0.87 - to $110.11 a barrel.
Foreign exchange moves were modest: AUD/USD was unchanged, moving 0.01% to 0.71, while AUD/JPY eased 0.09% to 112.95. The US Dollar Index Futures remained flat at 99.25, unchanged at 0.00%.
Index snapshot
The S&P/ASX 200 closed at 8,496.60, down 108.10 points, a decline of 1.26% for the session.