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Miners Pull ASX 200 Down, NZX 50 and Singapore Are Down Too

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Jun. 17 2019, Updated 10:09 a.m. ET

Australia and New Zealand

Australia’s S&P/ASX 200 fell 0.35% on June 17. The index traded in a narrow range as investors remained cautious. Out of the index’s 200 constituents, 62 stocks advanced, while 130 declined. Telecommunications, energy, and mining pulled the index down. BHP Group (BHP) followed the ASX 200 to end 0.35% lower. Rio Tinto (RIO), another mining giant, dropped 1.4% on the ASX. Both BHP Group and Rio Tinto also trade on the NYSE. Rio Tinto shares were up 0.3% in premarket trading on the NYSE at 5:35 AM ET.

The iShares MSCI Australia ETF, an Australia-focused ETF, fell 0.67% on June 14 and 0.62% last week. Both BHP Group and Rio Tinto are constituents of the ETF, with weights of 8.4% and 2.8%, respectively.

New Zealand’s NZX 50 ETF lost 0.64% on June 17.

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Singapore

Singapore’s Straits Times Index lost 0.45% today. So far in June, the index has returned 2.89%. Most sectors saw a decline, with only the telecommunications sector closing in the green. On June 14, the iShares MSCI Singapore Capped ETF (EWS) lost 0.21%. Over the past week, the ETF gained 1.54%.

On June 17, Singapore’s Department of Statistics reported its trade and investment data for May. Non-oil exports fell 15.9% in May compared to the same month last year but rose 6.2% over April this year. Both measures surpassed analysts’ expectations.

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