Australian equities edged lower around midday Friday, hovering near 9,071 and heading for a second consecutive weekly decline. A sharp overnight drop on Wall Street pressured sentiment as long-dated U.S. Treasury yields resumed their rise after government efforts to contain the recent bond-market selloff failed to calm inflation concerns. Domestic data also weakened: private-sector activity slowed in August, the flash Composite PMI (purchasing managers survey) fell from July's six-month high as manufacturing output declined, and employment unexpectedly dropped in July, lifting the jobless rate to a three-month high. Investors also remained cautious before July inflation data due next week. Technology, healthcare and commercial services stocks declined, while energy minerals, utilities and communications limited the broader fall. Charter Hall dropped 6.3%, Pro Medicus fell 3.3%, Wisetech Global lost 2.9% and Lynas Rare Earths declined 2.2%.