The local share market has closed slightly lower, consolidating near a record high amid a big sell-off in the tech sector and as traders digest a domestic labour market report with no clear message.
The benchmark S&P/ASX200 on Thursday finished down 21.4 points, or 0.27 per cent, to 8,036.5, while the broader All Ordinaries fell 30.8 points, or 0.37 per cent, to 8,272.7.
It was the ASX200's second-highest close ever, but came against a backdrop of slightly increased concerns the Reserve Bank might raise interest rates next month following Thursday's release of June jobs figures.
AMP deputy chief economist Diana Mousina called the report confusing, because it showed strong jobs growth - with another 50,000 people employed - but unemployment ticking up to 4.1 per cent.
Economists from RBC Capital Markets, J.P. Morgan and NAB all said the readout probably wouldn't tip the scales one way or the other for the Reserve Bank, which they said would probably put more weight on the second-quarter inflation report due July 31.
But the jobs data slightly shifted investor expectations for an August rate hike, with futures implying a 20 per cent probability, from 12 per cent before, according to CBA economist Ryan Felsman.
Seven of the ASX's 11 sectors finished lower, while consumer staples, utilities and health care were slightly higher and consumer discretionaries closed flat.
The tech sector was the biggest mover, dropping 3.4 per cent in its worst single-day loss since a 3.9 per cent decline on April 3.
The plunge followed a similar selloff on Wall Street, where the tech-heavy Nasdaq suffered its biggest fall in 18 months on a report the US was considering imposing tough sanctions on China's semiconductor industry.
Wisetech Global dropped 6.3 per cent to a three-week low of $93.39, Life360 fell 3.5 per cent to $16.42 and Audinate retreated 3.4 per cent to a two-month low of $15.07
Carsales.com.au owner CAR Group dropped 3.8 per cent to $34.35 and realestate.com.au owner REA Group fell 4.1 per cent to $196.97, although both companies are officially listed in the communications sector.
Domino Pizza Enterprises was the worst performer in the ASX200, retreating 8.2 per cent to a nine-year low of $33.12 after the fast food operator said it would close dozens of underperforming stores in Japan and France.
On the flip side, Accent Group climbed 10.2 per cent to a five-month high of $2.16 after the footwear retailer said trading conditions had improved in the second half, with like-for-like sales 4.1 per cent ahead of the prior year.
In the heavyweight mining sector, Evolution grew 2.8 per cent to a nearly three-month high of $4.09 after the goldminer reported record June quarter cash flow of $230 million, up from $85 million in the March quarter.
Elsewhere in the sector, BHP dipped 0.1 per cent to $42.66, Fortescue dropped 1.4 per cent to $22.04 and Rio Tinto fell 0.5 per cent to $115.94.
The Big Four retail banks were mixed, with ANZ up 0.3 per cent to $30.06, Westpac flat at $28.48, NAB down 0.2 per cent to $37.69 and CBA retreating 0.6 per cent to $132.66.
Former messageboard favourite Zip Co climbed 11.2 per cent to a one-week high of $1.785 after completing a $217 million capital raising at a slim 2.8 per cent discount.
Droneshield dropped 5.5 per cent to $1.73, the third-straight day of losses for the once red-hot defence contractor.
The Australian dollar was buying 67.40 US cents, from 67.38 US cents at Wednesday's ASX close
ON THE ASX:
* The benchmark S&P/ASX200 index on Thursday dropped 21.4 points, or 0.27 per cent, at 8,036.5
* The broader All Ordinaries fell 30.8 points, or 0.37 per cent, to 8,272.7.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 67.40 US cents, from 67.38 US cents at Wednesday's ASX close
* 105.32 Japanese yen, from 106.32 Japanese yen
* 61.65 euro cents, from 61.79 euro cents
* 51.86 British pence, from 51.86 pence
* 111.01 NZ cents, from 110.93 NZ cents.
