Closing Bell: ASX attempts a Friday rally, pulls hammy | Stockhead

Australia’s ASX tried to build on a strong Friday morning, but finished lower, down 0.16% and off about 70 points from its peak earlier in the session. Materials and energy weighed most heavily, with BHP sliding more than 2.5% and the sector down around 1.2%. The move came as Wall Street delivered its best session in about a month after Fed governor Christopher Waller reduced concerns about another US rate hike. The odds of a September increase fell from nearly 70% earlier to around 50%. Gold rebounded 1.8% to about US$4,472/oz, while bitcoin jumped more than 5% above US$81,000. Separately, Morgan Stanley warned a prolonged shutdown at China’s Jianxiawo lithium mine could tighten next year’s surplus into a deficit.