\n<\/p>\n
The Australian stock market is extending its early losses in mid-market trading on Tuesday, adding to the slight losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P\/ASX 200 index is falling below the 8,800 level, with weakness in gold miners and energy stocks.<\/p>\n
The benchmark S&P\/ASX 200 Index is losing 31.30 points or 0.35 percent to 8,799.70, after hitting a low of 8,790.30 earlier. The broader All Ordinaries Index is down 33.30 points or 0.37 percent to 9,003.70. Australian stocks closed slightly lower on Monday. <\/p>\n
Among the major miners, Fortescue is edging up 0.5 percent, while Mineral Resources and Rio Tinto are losing almost 1 percent each. BHP Group is flat.<\/p>\n
Oil stocks are mostly lower. Beach energy is losing almost 1 percent and Origin Energy is slipping almost 2 percent, while Woodside Energy and Santos are declining more than 1 percent each.<\/p>\n
Among tech stocks, Afterpay owner Block and Appen are edging down 0.3 to 0.5 percent each, while Zip is edging up 0.2 percent, WiseTech Global is surging more than 5 percent and Xero is gaining more than 1 percent.<\/p>\n
Gold miners are mostly lower. Evolution Mining and Resolute Mining are losing more than 3 percent each, while Northern Star Resources is slipping almost 3 percent, Newmont is down almost 1 percent and Genesis Minerals are declining more than 1 percent.<\/p>\n
Among the big four banks, Commonwealth Bank and Westpac are edging up 0.1 to 0.2 percent each, while ANZ Banking and National Australia Bank are flat.<\/p>\n
In the currency market, the Aussie dollar is trading at $0.695 on Tuesday. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n