Australian Shares Snap 3-Session Decline

2026-03-17 00:16 By Czyrill Jean Coloma 1 min. read

The S&P/ASX 200 rose 0.3% to 8,611 on Tuesday, snapping a three-session losing streak as market sentiment improved on hopes that more oil tankers could soon pass through the Strait of Hormuz.

Tehran has reportedly allowed a limited number of ships from certain countries, including Pakistan, India, and Turkey, to transit the critical waterway.

Domestically, investors are awaiting a key policy decision from the Reserve Bank of Australia later today.

After raising rates by 25 bps in February, the RBA is widely expected to deliver another hike to the cash rate as inflation risks intensify amid the Middle East conflict, which has disrupted oil flows through the Strait of Hormuz and pushed fuel prices sharply higher.

Among individual stocks, mining giants BHP Group (1.3%) and Rio Tinto (1.9%) led gains, alongside Macquarie Group (1.9%), Goodman Group (1.4%), and Evolution Mining (1.2%).

Meanwhile, energy stocks Woodside Energy (-1.1%) and Santos (-0.2%) were among the session’s decliners.



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Australian Shares Snap 3-Session Decline
The S&P/ASX 200 rose 0.3% to 8,611 on Tuesday, snapping a three-session losing streak as market sentiment improved on hopes that more oil tankers could soon pass through the Strait of Hormuz. Tehran has reportedly allowed a limited number of ships from certain countries, including Pakistan, India, and Turkey, to transit the critical waterway. Domestically, investors are awaiting a key policy decision from the Reserve Bank of Australia later today. After raising rates by 25 bps in February, the RBA is widely expected to deliver another hike to the cash rate as inflation risks intensify amid the Middle East conflict, which has disrupted oil flows through the Strait of Hormuz and pushed fuel prices sharply higher. Among individual stocks, mining giants BHP Group (1.3%) and Rio Tinto (1.9%) led gains, alongside Macquarie Group (1.9%), Goodman Group (1.4%), and Evolution Mining (1.2%). Meanwhile, energy stocks Woodside Energy (-1.1%) and Santos (-0.2%) were among the session’s decliners.
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Australian Shares Open the Week Lower
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The S&P/ASX 200 edged down 0.1% to close at 8,617 on Friday and finished the week 2.6% lower, marking a second straight weekly loss as rising oil prices tied to the Middle East conflict fueled inflation concerns. Crude prices jumped after Iran intensified strikes on oil and transport infrastructure across the region, raising fears of supply disruptions. Higher fuel costs also lifted domestic inflation worries, prompting markets to raise the odds of a rate hike at the March 17 meeting of the Reserve Bank of Australia to about 78%. Gold miner Northern Star led the losses, down 18.8%, its worst session since late March 2020, after flagging difficulties in reaching its annual production forecast. Mining giant BHP Group also fell 1.7% as China widened its iron ore ban amid a month-long contract dispute, while Rio Tinto advanced 3.1% after Glencore revived hopes of a potential deal. Financials, up 1%, cushioned overall losses, while energy firms remained in the green.
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