Australia's sharemarket has started the month on the back foot, tracking a turnaround in global risk appetite after a hawkish speech from the Bank of Japan's governor.
The S&P/ASX200 fell 48.9 points on Monday, down 0.57 per cent, to 8,565.2, as the broader All Ordinaries lost 52.2 points, or 0.59 per cent, to 8,866.5.
A modest morning gain quickly swung into the red after signs of further interest rate hikes in Japan dragged on the Nikkei, causing a domino effect which weighed on US futures and the local market,
ASX systems glitch
The slump also came as market operator ASX scrambled to fix an outage impacting the publication of market sensitive announcements, locking scores of companies in trading halts for most of the day, and wiping 2.8 per cent from ASX Ltd's share price.
Eight of 11 local sectors traded lower as health care, consumer staples and IT stocks tumbled, while the energy sector surged 0.5 per cent on the back of a rising oil price, as Ukrainian drones hit two Russian 'shadow fleet' crude tankers.
The Australian dollar is buying 65.41 US cents, up from 65.29 US cents on Friday.
Watching GDP
Looking ahead, investors will be watching Wednesday's quarterly GDP data release, along with a speech by Reserve Bank governor Michele Bullock a few hours before.
