Australia shares fall by 1.3% amid rising coronavirus cases

Share market in Australia recorded a dip on July 22 after coronavirus cases in country saw a record surge in past 24 hours denting investors' morale. According to reports, S&P/ASX 200 index closed at 6,075.10 on Wednesday, a 1.3 per cent fall compared to a 2.6 per cent rise a day ago. fall in share market was driven by health care sector which recorded a drop of 3.2 per cent, its worst session since May, and drop was mainly steered by industry giants CSL Ltd and Cochlear as both dropping at nearly 4 per cent.  

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Australia on July 22 logged in 501 new COVID-19 infections, which is highest ever recorded by country down under since disease emerged in March. Australia's Victoria state recorded most of 501 cases, almost 97 percent of it. Victoria recorded most cases despite anuncing a lockdown for Melbourne suburbs, it largest city, which saw a number of new coronavirus clusters in past few weeks. Victoria anunced lockdown for more than 3,00,000 residents in suburbs rth of Melbourne as part of its efforts to slow down coronavirus spread. According to figures by Johns Hopkins University, Australia has so far recorded nearly 13,000 COVID-19 cases and at least128 deaths.

Read: Australia To Lock Down Over 300k People In Melbourne's Suburbs To Curb COVID-19 Spread

Share dip in or sectors

Meanwhile, techlogy and mining sector also recorded a fall at S&P/ASX 200 as ir index dropped by 2.4 percent and 1.3 percent respectively. fall in se sectors was mainly driven by ir largest companies Wisetech, Afterplay, and BHP Group, Rio Tinto. New Zealand's S&P/NZX 50 also fell as it recorded a 0.1 percent slip to finish session at 11,722.97 on Wednesday. Restaurant Brands New Zealand along with Fisher & Paykel Healthcare Corp were among top losers as y logged in 2.5 percent and 2 percent fall respectively. 

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