The local share market opened lower today and has fallen even further as the session has progressed. The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is currently down 22 points, or 0.4%, at 5348 points.
While the ASX itself is trading lower, these four shares are faring even worse…
Estia Health Ltd (ASX: EHE) shares fell as much as 12.7% on Tuesday on speculation of a government audit. However, they managed to recover most of their losses by the end of the session after the company said it, like other aged care providers, is regularly audited by the government, implying there was nothing to worry about. The shares closed just over 2% lower as a result.
However, some of that progress has been unwound today. The shares are again trading 4.5% lower at $4.93, making it the worst performing share from the ASX 200 cohort. It seems that investors are still concerned about the complexity of the aged care industry and the potential for future cutbacks in government funding for the sector.
Telstra Corporation Ltd (ASX: TLS) shares have lost 1.4% today, acting as a drag on the broader market. The shares lifted strongly since the beginning of May, but have cooled off more recently based on lowered expectations of an official RBA interest rate cut. As it happens, the RBA elected to keep interest rates on hold on Tuesday which may have dampened the market's appetite for high-yielding Telstra shares.
BHP Billiton Limited (ASX: BHP) shares have also come off the boil following two strong days for the miner. The shares have fallen 2.3% so far today to $19.33, despite another rise in the price of iron ore and oil overnight. Indeed, the sustainability of iron ore's recent rally is still questionable, particularly with the rising shipments of the commodity, which you can read about here.
Blackmores Limited (ASX: BKL) was one of the market's favourite shares in 2015, but it has come under heavy scrutiny so far this year given its reliance on China for sales growth. Its shares have fallen 2.6% today to $146.75 with uncertainty regarding tougher regulations in China still weighing on investor confidence.
