The Australian stock market is trimming its early losses in mid-market moves on Wednesday, adding to the losses in the previous session, with the benchmark S&P/ASX 200 falling well below the 9,050 level, following the mixed cues from Wall Street overnight, dragged by tumbling gold mining stocks as bullion prices recorded its biggest intra-day drop in nearly 12 years.
The benchmark S&P/ASX 200 Index is losing 75.90 points or 0.84 percent to 9,018.80, after hitting a low of 8,998.70 earlier. The broader All Ordinaries Index is down 84.60 points or 0.90 percent to 9,305.50. Australian stocks ended notably lower on Tuesday.
Among major miners, BHP Group is losing more than 2 percent, Mineral Resources is tumbling more than 3 percent, Rio Tinto is declining almost 2 percent and Fortescue is down more than 1 percent.
Oil stocks are mixed. Woodside Energy is gaining more than 4 percent and Beach energy is adding more than 3 percent, while Origin Energy is edging down 0.3 percent and Santos is losing almost 1 percent.
In the tech space, Afterpay owner Block and Xero are gaining almost 2 percent each, while WiseTech Global is down almost 1 percent, Zip is declining almost 3 percent and Appen is losing more than 3 percent.
Among the big four banks, Westpac is edging down 0.1 percent, while National Australia bank, ANZ Banking and Commonwealth Bank are edging up 0.1 to 0.5 percent each.
Among gold miners, Evolution Mining and Newmont are tumbling almost 10 percent each, while Northern Star Resources is slipping almost 11 percent, Resolute Mining is plunging almost 7 percent and Genesis Minerals is sliding more than 10 percent.
In the currency market, the Aussie dollar is trading at $0.649 on Wednesday.
Market Analysis
Australian Market Trims Early Losses In Mid-market
2025-10-22 03:47:10
