The Australian stock market is extending its early losses in mid-market trading on Monday, snapping a five-session winning streak, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling well below the 8,900.00 level, with weakness across most sectors led by technology stocks. Gold stocks were the only bright spot amid spiking bullion prices.
The benchmark S&P/ASX 200 Index is losing 39.70 points or 0.45 percent to 8,864.20, after hitting a low of 8,855.60 earlier. The broader All Ordinaries Index is down 40.30 points or 0.44 percent to 9,186.30. Australian stocks closed notably higher on Friday.
Among the major miners, BHP Group is down almost 1 percent, Fortescue is losing 2.5 percent and Rio Tinto is edging down 0.1 percent, while Mineral Resources is gaining almost 1 percent
Oil stocks are mostly lower. Beach energy and Woodside Energy are edging down 0.1 to 0.3 percent each, while Santos is declining more than 1 percent. Origin Energy is gaining more than 1 percent.
Among tech stocks, Afterpay owner Block and Zip are losing almost 1 percent each, while WiseTech Global is declining more than 4 percent and Xero is slipping almost 3 percen. Appen is edging up 0.4 percent.
Gold miners are higher. Northern Star Resources is adding 3.5 percent, Evolution Mining is gaining almost 3 percent and Newmont is up more than 1 percent, while Genesis Minerals and Resolute Mining are advancing more than 4 percent each.
Among the big four banks, ANZ Banking is edging down 0.5 percent and National Australia Bank is declining more than 1 percent, while Westpac and Commonwealth Bank are losing almost 1 percent each.
In other news, shares in Catalyst Metals are jumping almost 7 percent after reporting a new high-grade gold discovery below its Cinnamon Resource on the Plutonic Gold Belt in Western Australia.
In the currency market, the Aussie dollar is trading at $0.668 on Monday.
Market Analysis
Australian Market Extends Early Losses In Mid-market
2026-01-19 03:12:01
