Afternoon update: ASX trading 0.5% lower, Consumer Staples outperforming

The ASX is currently trading 0.5 per cent lower at 7,317.80, and the SPI futures are witnessing a decline of 39 points.

Regarding sector performance, Consumer Staples stand out as the best-performing sector, showing a gain of 0.49 per cent, while Information Technology is currently the worst performer, down 1.46 per cent.

Moving on to the large-cap companies, Aristocrat Leisure is displaying notable strength, trading 1.57 per cent higher at $40.33. However, James Hardie Industries find itself as the worst-performing large cap, facing a decline of 2.73 per cent at $41.38. Other notable performers in this category include Insurance Australia Group (ASX:IAG) and Treasury Wine Estates (ASX:TWE) on the positive side, and Xero (ASX:XRO) and Infratil (ASX:IFT) on the negative side.

Let's now turn our attention to the Asian markets. Japan's Nikkei is experiencing a loss of 1.43 per cent, Hong Kong's Hang Seng is down by 0.17 per cent, and China's Shanghai Composite is encountering a notable decline of 2.17 per cent.

In the commodities sector, gold is currently trading at US$1,972.50 per ounce, while light crude is marginally rising, trading at US$79.57 per barrel.

Finally, with regard to currency exchange, one Australian dollar is currently buying 65.35 US cents. 
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Source: Finance News Network