The Australian stock market is maintaining its early losses in mid-market trading on Tuesday, reversing the gains in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling well below the 8,800 level, with weakness in mining and technology stocks partially offset by gains in financial and energy stocks.
The benchmark S&P/ASX 200 Index is losing 10.50 points or 0.12 percent to 8,772.70, after hitting a low of 8,738.80 earlier. The broader All Ordinaries Index is down 20.30 points or 0.23 percent to 8,916.70. Australian stocks closed significantly higher on Monday.
Among the major miners, Rio Tinto and Mineral Resources are declining almost 3 percent each, while BHP Group and Fortescue are losing almost 2 percent each.
Oil stocks are mostly higher. Beach energy and Origin Energy are gaining more than 2 percent each, while Santos is advancing more than 3 percent and Woodside Energy is adding almost 2 percent.
Among tech stocks, Afterpay owner Block and Xero are losing more than 1 percent each, while Zip is slipping more than 4 percent, WiseTech Global is declining more than 3 percent and Appen is sliding almost 4 percent.
Gold miners are mostly lower. Newmont and Northern Star Resources are losing almost 1 percent each, while Evolution Mining is declining almost 2 percent, Resolute Mining is slipping more than 3 percent and Genesis Minerals is sliding almost 3 percent.
Among the big four banks, ANZ Banking is edging up 0.4 percent, while Commonwealth Bank, National Australia Bank and Westpac are gaining almost 1 percent.
In other news, shares in Cettire are jumping almost 12 percent on news that Israeli hedge fund UDN Eden Management took a major stake in the beleaguered luxury goods seller.
Shares in RAIZ Invest Ltd. are plunging 33 percent after the fintech company disclosed compliance and tax reporting failures to the market.
In economic news, minutes from the Reserve Bank of Australia’s September meeting showed that policymakers unanimously raised the cash rate by 25bps to 4.6 percent, citing persistent inflation risks. The meeting record also indicated that further rate hikes remained possible. Meanwhile, inflation readings exceeded expectations, with businesses reporting widespread cost pass-throughs. Short-term expectations stayed high, raising concern about medium-term drift.
Australia’s NAB Business Confidence Index fell to -13 in September 2026 from a revised -9 in the previous month, marking its lowest reading since May and the seventh consecutive month of negative sentiment. The index remained well below its long-run average. The continued deterioration in sentiment suggests business conditions could weaken further, the survey said.
In the currency market, the Aussie dollar is trading at $0.696 on Tuesday.
Market Analysis
Australian Market Maintains Early Losses In Mid-market
2026-10-13 03:25:14
