At lunchtime AEDT on Wednesday, the benchmark S&P/ASX200 index was down 48 points, or 0.63 per cent, to 7,611.0, while the broader All Ordinaries had fallen 48.8 points, or 0.62 per cent, to 7,863.0.
The mining sector was 2.5 per cent lower, with BHP down 3.3 per cent to $44.04, Rio Tinto retreating 3.2 per cent to $123.94 and Fortescue falling 4.8 per cent to $26.85.
Woolworths Group had plunged 8.8 per cent to a 16-month low of $32.73 after the supermarket group posted its half-year earnings and announced that chief executive Brad Banducci would retire in September.
E&P Capital retail analyst Phillip Kimber said the results were mostly in line with expectations, but showed that sales momentum had slowed for its flagship Australian supermarkets.
A selloff was to be expected given that sales weakness combined with the retirement of a well-respected chief executive during a time of heightened media and government scrutiny, Mr Kimber indicated.
On the flip side, Wisetech Global had soared 11.5 per cent to $88.99 after the logistics platform raised its dividend following a strong half-year performance.
RBC Capital Markets analyst Garry Sherriff said Wisetech had delivered a very strong beat to expectations, with impressive margins, earnings and profit.
Domino's Pizza Enterprises was up 2.9 per cent to $40.76 after the fast food company reported a fall in first-half profit as customers in Europe and Asia remained cautious amid inflationary pressures.
Scentre Group was up 3.0 per cent to $3.07 after the Westfield owner reported its operating profit was up 16 per cent to $1.06 billion.
Corporate Travel Limited had plummeted 18.6 per cent to a four-month low of $16.16 after the travel agency reported underlying first-half earnings of $100.7 million, nearly double that of a year ago.
Codan had rocketed 14.5 per cent to a more than two-year high of $9.62 after the metal detector company grew first-half net profit by 24 per cent, to $38.1 million.
The Big Four banks were mixed, with CBA down 1.5 per cent and Westpac 0.1 per cent higher, while ANZ had added 1.3 per cent and NAB had gained 1.0 per cent.
The Australian dollar was at a three-week high against its American counterpart, buying 65.55 US cents, from 65.33 US cents at Tuesday's ASX close.
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