The Australian stock market is extending its early losses in mid-market trading on Tuesday, reversing the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 9,050 level, with weakness across most sectors led by gold miners and technology stocks. Financial stocks are the only bright spot.
The benchmark S&P/ASX 200 Index is losing 44.70 points or 0.49 percent to 9,010.90, after hitting a low of 9,008.70 earlier. The broader All Ordinaries Index is down 59.30 points or 0.63 percent to 9,292.60. Australian stocks closed modestly higher on Monday.
Among the major miners, BHP Group is losing almost 1 percent and Mineral Resources is declining more than 6 percent, while Rio Tinto and Fortescue are edging down 0.2 to 0.4 percent each.
Oil stocks are mostly lower. Santos and Beach energy are losing almost 2 percent each, while Woodside Energy is down more than 1 percent. Origin Energy is gaining almost 1 percent.
Among tech stocks, Afterpay owner Block is losing almost 1 percent and Zip is down more than 2 percent, while Xero is edging up 0.3 percent and Appen is advancing almost 3 percent.
WiseTech Global is tumbling almost 17 percent after the Australian Federal Police and the corporate regulator raided its offices in Sydney and requested documents related to alleged trading by its billionaire founder Richard White and three other employees.
Gold miners are mostly lower. Northern Star resources and Evolution Mining are losing almost 3 percent each, while Newmont is declining more than 3 percent, Resolute Mining is sliding more than 10 percent and Genesis Minerals is slipping almost 4 percent.
Among the big four banks, Commonwealth Bank and Westpac are gaining almost 2 percent each, while National Australia Bank is advancing almost 3 percent and ANZ Banking is adding more than 1 percent.
In other news, shares in Domino’s are skyrocketed more than 17 percent ahead of a trading halt after reports that Bain Capital dealmakers were considering buying the company.
Shares in CSL are tumbling more than 14 percent after the blood plasma giant cut its revenue guidance as it faces a second strike and the deferral of its Seqirus vaccine business in the U.S.
Shares in AUB Group are gained almost 9 percent on news it received an unsolicited, confidential, and non-binding indicative takeover proposal from private equity firm EQT.
Shares in Liontown Resources are sliding more than 14 percent after a quarterly update revealed lower sales and revenue, despite a slight increase in production.
In the currency market, the Aussie dollar is trading at $0.656 on Tuesday.
Market Analysis
Australian Market Extends Early Losses In Mid-market
2025-10-28 03:37:16
