The S&P/ASX 200 Index (ASX: XJO) is having another positive session on Wednesday. In afternoon trade, the benchmark index is up 0.15% to 7,150.1 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Appen Ltd (ASX: APX)
The Appen share price is down 6% to $2.94. This is despite there being no news out of the artificial intelligence data services company. However, with its shares rocketing higher recently, it could be that some investors are taking profit today.
Auckland International Airport Limited (ASX: AIA)
The Auckland International Airport share price is down 3% to $7.57. This morning, this airport operator was forced to change its dividend policy in response to the large scale investment that is taking place to upgrade its aeronautical infrastructure. Auckland Airport's dividend policy is now to pay 70% to 90% of underlying net profit after tax.
CSL Limited (ASX: CSL)
The CSL share price is down 7% to $287.53. Investors have been selling this biotherapeutics company's shares following the release of a disappointing market update. CSL's FY 2023 profit forecast has been reduced due to higher-than-expected foreign currency headwinds by US$230 million to US$250 million. CSL had previously forecast an impact of US$175 million when it reported its half-year results.
WiseTech Global Ltd (ASX: WTC)
The WiseTech share price is down 2.5% to $77.95. This morning, analysts at Ord Minnett downgraded the logistics solutions company's shares to a hold rating from accumulate with a $90.00 price target. The broker made the move on valuation grounds.
