Market Close 3 Aug 22: ASX retreats, ending 6 day winning streak.

The Australian sharemarket snapped six-straight days of gains and posted its worst daily decline in around two weeks, after the ASX 200 shed 22.2pts or 0.32%, to 6975.9. The index managed to recoup some losses after the mining sector clawed back a 1.5 per cent decline and finished 0.35 per cent higher. The material sector’s recovery was supported by a rally in lithium miners, following a parliamentary decision to cut emission by 43 per cent by 2030. Elsewhere in the market, Tech shares climbed 2.2 per cent - their best day in around two weeks - and the Financials sector snapped six-straight days of gains, with the Big 4 banks all down.

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