Australian Equities Drop to Near 2-Week Low

2026-04-22 01:52 By Farida Husna 1 min. read

Australian shares fell 84 points, or 0.9%, to 8,865 in Wednesday morning trade, extending a run of weak sessions and approaching a two-week low after Wall Street’s overnight slide following skepticism over U.S.

President Trump’s announcement of an indefinite ceasefire extension with Iran.

Comments from Fed nominee Kevin Warsh at his Senate confirmation hearing Tuesday were read as slightly hawkish, adding to market caution.

Locally, April PMI data will be due Thursday.

Meanwhile, Australia’s leading index stayed weak in March, weighed by higher rates and surging fuel costs tied to the Middle East conflict.

Sector losses were led by healthcare, financials, and commercial services, though gains in consumer non-durables helped cap declines.

Among notable laggards were Macquarie Group (-3.9%), Evolution Mining (-3.5%), and Ramsay Health Care (-1.8%).

Cochlear Ltd. tumbled 37.2%, hitting a ten-year low after cutting its full-year earnings guidance, on weak demand and geopolitical risks.



News Stream
Australian Equities Drop to Near 2-Week Low
Australian shares fell 84 points, or 0.9%, to 8,865 in Wednesday morning trade, extending a run of weak sessions and approaching a two-week low after Wall Street’s overnight slide following skepticism over U.S. President Trump’s announcement of an indefinite ceasefire extension with Iran. Comments from Fed nominee Kevin Warsh at his Senate confirmation hearing Tuesday were read as slightly hawkish, adding to market caution. Locally, April PMI data will be due Thursday. Meanwhile, Australia’s leading index stayed weak in March, weighed by higher rates and surging fuel costs tied to the Middle East conflict. Sector losses were led by healthcare, financials, and commercial services, though gains in consumer non-durables helped cap declines. Among notable laggards were Macquarie Group (-3.9%), Evolution Mining (-3.5%), and Ramsay Health Care (-1.8%). Cochlear Ltd. tumbled 37.2%, hitting a ten-year low after cutting its full-year earnings guidance, on weak demand and geopolitical risks.
2026-04-22
ASX 200 Stays Subdued for 3rd Session
The S&P/ASX 200 closed little changed on Tuesday at 8,949, remaining muted for a third straight session as strength in consumer durables, commercial services, and producer manufacturing offset declines in energy minerals, healthcare, and utilities. Traders tracked developments in the Middle East conflict amid reports that Iran may join peace talks with the U.S. in Pakistan. In Washington, attention turned to a Senate confirmation hearing later today for Kevin Warsh, President Trump’s nominee to lead the Federal Reserve. Locally, investors awaited March leading index data and April PMI readings due mid-week. Solid Minerals surged 74% after agreeing to acquire a 93,000-hectare lithium exploration package in Minas Gerais, Brazil, from a Rio Tinto subsidiary, lifting Rio Tinto shares 0.8%. Other gainers included Yancoal Australia (3.6%) and Sigma Healthcare (2.0%), while Woodside Energy (-2.1%) and Northern Star Resources (-1.5%) dipped.
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Australian Stocks Lackluster Ahead of PMI Readings
Australian equities were little changed on Tuesday, with the S&P/ASX 200 hovering around 8,948 in early trade, being subdued for a second session as investors awaited April PMI data due Thursday and tracked persistent U.S.–Iran tensions. Meanwhile, Canberra moved to cushion geopolitical risks by underwriting purchases via Export Finance Australia, launching a conservation campaign, and sending the prime minister recently on diplomatic visits to Singapore, Brunei, and Malaysia. Gains in commercial services, consumer durables, and producer manufacturing offset declines in healthcare, utilities, and energy minerals. Viva Energy rose 2.6% as it worked to restore output at its fire-damaged Geelong refinery, targeting more than 90% capacity within weeks. Other gainers included Codan (2.6%), Xero (2.0%), and Nextdc (1.6%), while Lynas Rare Earths (-2.7%), Evolution Mining (-1.2%), and Qantas (-0.7%) slipped.
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