Asia stocks sank early on Wednesday, catching up with the sell-off on Wall Street after Iran's ballistic missile strike on Israel provoked fears of a wider regional conflict, while crude oil pushed higher on the risk of supply disruptions.
Hong Kong's Hang Seng yet to open after holiday; US S&P 500 stock index futures weaken 0.16 per cent, after the cash index lost 0.9 per cent overnight.
The ASX200 dropped 0.7 per cent, snapping a three-day win streak after Fed chairman Jerome Powell said the US central bank was in no rush to cut interest rates.
The S&P 500 has sputtered to a record high close, rebounding from a brief setback after Federal Reserve chair Jerome Powell said the US central bank is in no hurry to implement further interest rate cuts.
The owner of Dan Murphy's has started searching for a new CEO following the announced departure of its current leader who will leave behind a slowing business.
The local stock exchange has finished about one per cent higher, with every sector except energy in the green as the rotation from banks to miners continued.
The ASX200 dropped 0.2 per cent, while miners gained and the local currency hit its highest level in 19 months on China's aggressive stimulus measures.
US stocks have closed with some indexes enjoying record highs, boosted by mining stocks that had been buoyed news of China's sweeping stimulus package.
Senior reporter and feature writer Victoria Laurie was bestowed the culture and arts report award at the WA Media Awards for her work in Business News.
The ASX200 fell 0.1 per cent, with fashion retailer Cettire soaring and uranium developers continuing to rise, while supermarkets were down for a second day.
