{"id":56918,"date":"2025-03-04T02:45:01","date_gmt":"2025-03-04T02:45:01","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/03\/04\/australian-market-trims-early-losses-in-mid-market-3\/"},"modified":"2025-03-04T02:45:01","modified_gmt":"2025-03-04T02:45:01","slug":"australian-market-trims-early-losses-in-mid-market-3","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/03\/04\/australian-market-trims-early-losses-in-mid-market-3\/","title":{"rendered":"Australian Market Trims Early Losses In Mid-market"},"content":{"rendered":"
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The Australian stock market is trimming its early losses in mid-market trading on Tuesday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P\/ASX 200 is falling well below the 8,200 level, with weakness across most sectors led by mining and technology<\/span> stocks, after US President Donald Trump confirmed he will move forward with higher tariffs on major trading partners.<\/p>\n

The benchmark S&P\/ASX 200 Index is losing 72.70 points or 0.88 percent to 8,173.00, after hitting a low of 8,150.20 earlier. The broader All Ordinaries Index is down 82.80 points or 0.98 percent to 8,396.00. Australian stocks closed significantly higher on Monday.<\/p>\n

Among the major miners, BHP Group is losing more than 1 percent, Mineral Resources is sliding more than 10 percent, Rio Tinto is down 1.5 percent and Fortescue Metals is declining more than 4 percent.<\/p>\n

Oil stocks are mostly lower. Origin Energy is losing more than 5 percent and Beach energy is declining almost 4 percent, while Woodside Energy and Santos are down more than 3 percent each.<\/p>\n

Among tech stocks, Afterpay owner Block is losing almost 6 percent, Appen is sliding more than 4 percent and Zip is plunging almost 10 percent, while Xero and WiseTech Global are slipping almost 1 percent each.<\/p>\n

Gold miners are mixed. Evolution Mining is edging up 0.2 percent and Northern Star resources is up more than 1 percent, while Resolute Mining is declining almost 1 percent, Newmont is losing more than 1 percent and Gold Road Resources is edging down 0.2 percent.<\/p>\n

Among the big four banks, Commonwealth Bank is edging down 0.4 percent each, while ANZ Banking and National Australia Bank are losing almost 1 percent each. Westpac is flat.<\/p>\n

In economic news, retail sales in Australia increased by 0.3 percent month-on-month in January 2025, after a 0.1 percent decline in the previous month and matching market expectations.<\/p>\n

Meanwhile, Australia’s current account deficit declined to A$12.5 billion in the fourth quarter of 2024 from a downwardly revised A$19.9 billion shortfall in the third quarter, indicating the seventh consecutive quarter of deficit despite missing market expectations of an A$11.9 billion gap.<\/p>\n

In the currency market, the Aussie dollar is trading at $0.622 on Tuesday. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n