ASX falls 0.3% as investors await details from the federal budget

Australian shares fell on Tuesday as investors awaited details of the federal budget and key inflation data from the US. The S&P/ASX 200 closed 0.3%, or 23.2 points, lower at 7726. This decline followed a subdued start on Wall Street, with focus on upcoming US producer and consumer price data.

Futures

The Dow Jones futures indicate an increase of 4 points.

The S&P 500 futures indicate a decline of 0.5 points.

The Nasdaq futures indicate a decline of 14.5 points.

SPI futures are down 24 points.

Best and worst artists

The best performing sector was consumer discretionary, up 0.73 percent. The worst performing sector was manufacturing, with a decline of 0.88 percent.

The best performing large cap was ALS (ASX:ALQ)and closed 2.41 percent higher at $13.62. It was followed by shares in Sonic Healthcare (ASX:SHL) and Aristocrat Leisure (ASX:ALL).

The worst performing large cap was Seven Group Holdings (ASX:SVW)and closed 3.05 percent lower at $37.80. It was followed by shares in Pilbara Minerals (ASX:PLS) and Yancoal Australia (ASX:YAL).

Asian markets

Japan’s Nikkei rose 0.46 percent.

Hong Kong’s Hang Seng lost 0.03 percent.

China’s Shanghai Composite gained 0.29 percent.

Commodities and the dollar

Gold is trading at US$2,348.40 per ounce.

Iron ore is 0.6 percent higher at $117.25 per tonne.

Iron ore futures point to a decline of 0.8 percent.

Light crude is trading $0.10 higher at $79.22 per barrel.

One Australian dollar buys 66.01 US cents.