The Australian stock market is extending its early losses in mid-market moves on Wednesday, reversing the gains in the previous session, with the benchmark S&P/ASX 200 falling below the 9,200 level, following the broadly negative cues from Wall Street overnight, with weakness in iron ore miners, energy, financial and technology stocks partially offset by gains in gold miner stocks.
The benchmark S&P/ASX 200 Index is losing 57.50 points or 0.62 percent to 9,193.10, after hitting a low of 9,191.80 earlier. The broader All Ordinaries Index is down 52.90 points or 0.56 percent to 9,390.80. Australian stocks ended modestly higher on Tuesday.
Among major miners, BHP Group, Fortescue and Rio Tinto are losing almost 1 percent each, while Mineral Resources is gaining almost 2 percent.
Oil stocks are mostly lower. Origin Energy is gaining more than 3 percent, while Beach energy is losing almost 1 percent, Woodside Energy is down more than 1 percent and Santos is edging down 0.3 percent.
In the tech space, Afterpay owner Block is losing almost 1 percent, WiseTech Global is edging down 0.3 percent, Appen is slipping almost 3 percent and Xero is declining more than 1 percent, while Zip is gaining almost 1 percent.
Among the big four banks, ANZ Banking, Westpac and Commonwealth Bank are losing more than 1 percent each, while National Australia bank is down almost 1 percent.
Among gold miners, Evolution Mining and Genesis Minerals are up almost 1 percent each, while Resolute Mining and Northern Star Resources are gaining more than 1 percent each. Newmont is adding almost 2 percent.
In other news, shares in Seek are tumbling more than 14 percent after a jump in profit for the online job advertiser was marred by a $200 million write-down of software-as-a-service investments in its Seek Growth Fund in its full-year result.
Shares in Bravura Solutions are surging almost 15 percent after the financial technology company posted a nearly 50 percent surge in profits in its full-year results.
In the currency market, the Aussie dollar is trading at $0.706 on Wednesday.
Market Analysis
Australian Market Extends Early Losses In Mid-market
2026-08-12 03:19:26
