SYDNEY, AAP – Shares reached record heights for the sixth consecutive trading day on the Australian market before inflation data from China worried investors.
The benchmark S&P/ASX200 index hit an all-time high of 7334.90 points in the first hour of trading, but then eased.
China’s factory gate prices have increased at the fastest pace since September 2008, official data showed on Wednesday.
Rising inflation may lead central banks to raise interest rates.
Market analysts said ASX investors responded cautiously to the data and sold stocks.
The ASX200 closed lower by 22.4 points, or 0.31 per cent, to 7270.2.
The All Ordinaries closed down by 20.3 points, or 0.27 per cent, to 7522.
The Australian dollar was buying 77.42 US cents at 1621 AEST, lower from 77.46 US cents at Tuesday’s close.