Australian Shares Open Flat

2026-03-18 00:35 By Joshua Ferrer 1 min. read

The S&P/ASX 200 was largely unchanged to around 8,600 in Wednesday morning trade, halting gains from the prior session as the ongoing Middle East conflict and a narrow back-to-back rate hike by the RBA weighed on sentiment.

The decision surprised markets with a tight 5–4 split vote, while Governor Bullock stressed that the debate was about timing rather than direction and warned inflation risks remain, reinforcing a hawkish outlook.

Markets lifted bets on another hike in May, with further tightening still priced in by August.

On the geopolitical front, Iranian state media confirmed the death of the secretary of the Supreme National Security Council, while renewed strikes on the UAE energy infrastructure heightened concerns over prolonged supply disruptions.

Rate-sensitive financials led the losses, with four of the largest banks down 0.1% to 2%.

Meanwhile, the mining sector was flat, as gold miners fell 0.6%, while heavyweights BHP and Rio Tinto gained 0.5% and 0.2%, respectively.



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Australian Shares Open Flat
The S&P/ASX 200 was largely unchanged to around 8,600 in Wednesday morning trade, halting gains from the prior session as the ongoing Middle East conflict and a narrow back-to-back rate hike by the RBA weighed on sentiment. The decision surprised markets with a tight 5–4 split vote, while Governor Bullock stressed that the debate was about timing rather than direction and warned inflation risks remain, reinforcing a hawkish outlook. Markets lifted bets on another hike in May, with further tightening still priced in by August. On the geopolitical front, Iranian state media confirmed the death of the secretary of the Supreme National Security Council, while renewed strikes on the UAE energy infrastructure heightened concerns over prolonged supply disruptions. Rate-sensitive financials led the losses, with four of the largest banks down 0.1% to 2%. Meanwhile, the mining sector was flat, as gold miners fell 0.6%, while heavyweights BHP and Rio Tinto gained 0.5% and 0.2%, respectively.
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The S&P/ASX 200 rose 0.4% to close at 8,614 on Tuesday, snapping a three-session losing streak even as the Reserve Bank of Australia delivered its second straight month of rate hikes. The central bank’s nine-member policy committee voted 5–4 to lift the cash rate by 25 bps to 4.1% from 3.85%, marking back-to-back rate hikes since mid-2023 and reversing two of last year’s three cuts. The RBA signaled growing unease that inflation, still running above its 2–3% target band, may remain elevated for “some time.” Officials pointed in particular to escalating tensions in the Middle East as a key source of upside risk, warning that further increases in global energy and commodity prices could feed through to domestic inflation. Banking stocks were among the gainers, with Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation, and ANZ Group rising between 0.4% and 1.1%, while miners, including BHP Group, Rio Tinto, and Fortescue, advanced 0.2% to 1.1%.
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The S&P/ASX 200 fell 0.4% to close at 8,583 on Monday, extending losses from the previous week as escalating tensions in the Middle East continued to raise concerns about global growth and inflation. Over the weekend, the US struck military targets near Kharg Island and warned it could expand attacks on energy infrastructure if shipping through the Strait of Hormuz is disrupted. Australia opted not to deploy naval vessels despite Washington seeking allied support to secure the waterway. These developments pushed oil prices higher, reigniting inflationary fears and strengthening expectations of hawkish stances among several major central banks. The RBA is set to announce its monetary policy decision on Tuesday, with markets pricing in roughly a 75% chance of a rate hike to 4.1%, and fully expecting the cash rate to reach around 4.35% by August. Metals and mining stocks fell 2.4% to a more than two-month low, while gold stocks declined 3.7% to its lowest level in over three months.
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