The Australian market is trimming its early losses in mid-market moves on Thursday, extending the slight losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,900 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains in gold mining and energy stocks.
The benchmark S&P/ASX 200 Index is losing 50.10 points or 0.56 percent to 8,883.80, after hitting a low of 8,858.90 earlier. The broader All Ordinaries Index is down 69.90 points or 0.66 percent to 9,189.70. Australian stocks ended slightly lower on Wednesday.
Among major miners, Rio Tinto is declining almost 2 percent, Fortescue is down more than 1 percent, BHP Group is losing almost 1 percent and Mineral Resources is edging down 0.4 percent.
Oil stocks are mostly higher. Santos is gaining more than 1 percent, Origin Energy is edging up 0.4 percent and Woodside Energy is adding almost 1 percent, while Beach energy is edging down 0.4 percent
In the tech space, WiseTech Global and Xero are slipping almost 2 percent each, while Afterpay owner Block is losing more than 1 percent and Zip is declining almost 4 percent. Appen is skyrocketing more than 32 percent after reporting upbeat revenues for the fourth quarter, driven by growth in its China and global businesses.
Among the big four banks, ANZ Banking is edging down 0.3 percent, while Commonwealth Bank and Westpac are losing more than 1 percent. National Australia Bank is edging up 0.3 percent.
Among gold miners, Evolution Mining is gaining 1.5 percent, Northern Star Resources is advancing almost 3 percent, Genesis Minerals is up almost 1 percent and Newmont is adding more than 2 percent. Resolute Mining is edging up 0.1 percent.
In the currency market, the Aussie dollar is trading at $0.703 on Thursday.
Market Analysis
Australian Market Trims Early Losses In Mid-market
2026-01-29 03:28:08
