Stocks in Australia Hit 10-week Low

The ASX 200 edged down 21 points or 0.2% to end at 8,604 on Tuesday, down for the third session after fresh data showed Australia's consumer confidence fell in June following May's rise and marking its fourth decline this year amid lingering cost-of-living pressures. Separately, business sentiment in May improved but remained firmly negative, due to concerns over the impact of elevated borrowing costs. Still, local markets trimmed early declines after solid May trade data in top trading partner China, as exports hit a record high while imports accelerated. Meanwhile, the Reserve Bank of Australia will hold a policy meeting next week, with traders expecting a pause following three rate hikes since January. In the U.S., stock futures strengthened, following a rebound in chip stocks on Wall Street Monday. Among today's decliners were Lynas Rare Earths(-4.5%), Evolution Mining (-4.2%), Fortescue (-3.5%), and heavyweight BHP Group (-1.7%). Two of four big banks fell between 0.5% and 1%.

Australian shares slumped 107 points or 1.2% to 8,518 in early Tuesday trade, marking a third straight decline and their weakest level in nearly three weeks. Losses were broad, led by electronic tech, non-energy minerals, utilities, and industrial services. Investors returned from a long weekend amid a sharp drop in U.S. equity futures, even after Wall Street posted gains overnight as the sell-off in tech eased. Sentiment was further clouded by renewed Middle East tensions and caution ahead of China’s trade data later today. Locally, consumer confidence fell 3.5% in June, reversing May’s strength and logging its fourth decline this year, with inflation pressures still the main drag. Still, weakness was capped by solid trade performance in April, with the balance swinging to surplus amid a rebound in exports. Heavyweights BHP Group (-3.0%), Northern Star Resources (-4.9%), and Evolution Mining (-7.3%) were among the worst performers, while the four big banks fell between 1.6% and 2.4%.

ASX200 decreased to 8484.00 Index Points, the lowest since March 2026. Over the past 4 weeks, Australia Stock Market Index (AU200) lost 2.3%, and in the last 12 months, it decreased 1%.