The Australian stock market is slipping to a slight loss in mid-market moves on Wednesday, extending the losses in the previous two sessions, with the benchmark S&P/ASX 200 staying below the 8,600 level, following the mixed cues from Wall Street overnight, with weakness in energy stocks and a mixed performance in most other sectors. Mining stocks were the only bright spot.
The Reserve Bank of Australia left interest rates unchanged for a third straight meeting as expected, citing inflation risks, and reiterated that price risks have “tilted to the upside.”
The benchmark S&P/ASX 200 Index is losing 6.10 points or 0.07 percent to 8,579.80, after touching a high of 8,611.10 earlier. The broader All Ordinaries Index is down 9.30 points or 0.11 percent to 8,866.50. Australian stocks ended notably lower on Tuesday.
Among major miners, BHP Group and Fortescue are edging up 0.1 to 0.3 percent each, while Rio Tinto is gaining almost 1 percent and Mineral Resources is adding almost 2 percent.
Oil stocks are mostly lower. Santos is slipping more than 1 percent, while Beach energy and Woodside Energy are losing almost 1 percent each. Origin Energy is flat.
In the tech space, Afterpay owner Block is gaining more than 1 percent and WiseTech Global is adding almost 2 percent, while Appen and Zip are declining almost 2 percent each. Xero is losing almost 2 percent.
Among the big four banks, Commonwealth Bank is edging down 0.5 percent and Westpac is losing almost 1 percent, while ANZ Banking is edging up 0.3 percent. National Australia bank is flat.
Among gold miners, Genesis Minerals and Resolute Mining are adding more than 3 percent each, while Northern Star Resources and Newmont are advancing more than 4 percent each. Evolution Mining is gaining almost 3 percent.
In the currency market, the Aussie dollar is trading at $0.663 on Wednesday.
Market Analysis
Australian Market Slips To Slight Loss In Mid-market
2025-12-10 03:19:04
