Australian shares have ended the day slightly lower after renewed jitters around artificial intelligence and interest rates hit mining stocks, while defensive bids elsewhere capped market losses.
The benchmark S&P/ASX200 index fell 6.4 points on Thursday, down 0.07 per cent, to 9146.8, as the broader All Ordinaries lost 17.1 points, or 0.18 per cent, to 9274.2.
Gold and copper prices tumbled as investors weighed a higher US interest rate outlook and a US technology futures sell-off following reports that Nvidia's board is considering dumping high-profile chief executive Jensen Huang over two purported extramarital affairs.
Despite the slump in local miners, blue-chip companies in other sectors broadly improved as investors sought cover in big names including CommBank, Westpac, Telstra, CSL and Transurban.
"The eyes of the market have obviously been cast firmly on the US, and it's been an absolute bombshell of a day in terms of the news that came through about Jensen Huang," Pepperstone head of research Chris Weston told AAP.
"But our market hasn't necessarily been too derailed, and if anything, people have probably said the ASX is a good place to hide out until this all clears because it's got low AI exposure, low tech exposure and it's a more defensive market."
Gold stocks dragged as the precious metal fell to $US3971 an ounce, with silver also handing back some recent gains as the US interest rate outlook continued to firm after an upside inflation surprise earlier in the week.
Energy stocks inched higher on the back of uneven performances across its sub-groups, while crude prices eased over the session to take the Brent contract to $US91.80 a barrel.
Both consumer staples and discretionaries lost roughly 0.3 per cent, while real estate trusts continued their recent upswing.
In company news, the corporate regulator is suing CommBank in the Federal Court over allegations tens of thousands of business customers were overcharged millions in fees they were never told about.
The action did not seem to worry investors, who lifted CBA shares 2.9 per cent to $171.76.
Accounting software Xero was one of the top-200's best performers after announcing a $1 billion share buyback to cap off a positive trading update.
Chicken supplier Inghams had a more contentious annual meeting as shareholders griped about the company's financial performance, but its leaders' pitch on its growth prospects was apparently enough to boost its value by market close.
The Australian dollar is buying 68.37 US cents, down from 68.75 US cents on Wednesday.
ON THE ASX:
* The S&P/ASX200 fell 6.4 points, or 0.07 per cent, to 9146.8
* The broader All Ordinaries dropped 17.1 points, or 0.18 per cent, to 9274.2
One Australian dollar trades for:
* 68.37 US cents, from 68.75 US cents on Wednesday at 5pm AEDT
* 109.18 Japanese yen, from 109.19 Japanese yen
* 61.70 euro cents, from 61.61 euro cents
* 51.56 British pence, from 51.53 pence
* 123.10 NZ cents, from 122.61 NZ cents
