FX.co ★ Australian Shares Retreat from Near 5-Month High

Australian shares edged 20 points, or 0.2%, lower to 9,019 in Thursday morning trade, snapping a three-session advance as investors locked in profits after the market touched its highest level since early March. Sentiment also turned more cautious ahead of key domestic releases, including June building approvals and Q2 export and import price data due later today, as well as June private sector credit figures on Friday.

Losses were partly limited by firmer U.S. equity futures, which helped offset the negative lead from Wall Street, where stocks fell overnight after the Federal Reserve left interest rates unchanged, with three policymakers dissenting in favor of a hike. On the local front, a moderation in June headline inflation eased pressure on the Reserve Bank of Australia following three rate increases earlier this year.

Declines were broad-based, led by utilities, technology, consumer-related stocks, and logistics. Mining heavyweight BHP Group slipped 1%, while other notable laggards included Nextdc (-3.0%), Lynas Rare Earths (-3.0%), and BlueScope Steel (-1.7%). In contrast, the four major banks advanced between 0.4% and 1.2%.