ASX down 0.57% near noon: ResMed suffers significant losses

Shares on Australia's S&P/ASX 200 Index declined at the opening bell due to concerns over potential inflation acceleration prompting the Reserve Bank to consider raising interest rates, contrasting global easing trends. Healthcare stocks, notably ResMed, suffered significant losses following disappointing trial results. Additionally, weakened commodity prices, including a decline in Singapore iron ore futures, impacted mining shares like BHP.

At 11:30am, the S&P/ASX 200 is 0.57 per cent lower at 7,751.20.

The SPI futures are pointing to a fall of 46 points.