ASX 200 Pares Early Drop

2026-06-11 06:36 By Farida Husna 1 min. read

The ASX 200 edged down 20 points, or 0.2%, to close at 8,633 on Thursday, reversing gains in the prior session as weakness in consumer durables, logistics, and financials weighed on sentiment.

Concerns over Australia’s slowing economy also grew after Westpac said home loan applications averaged 30,000 per month in the fiscal third quarter starting April, down from 33,000 in the prior quarter, underscoring the impact of global instability and domestic tax changes.

Still, early weakness was trimmed amid stronger U.S.

stock futures, following Washington’s announcement that strikes against Iran had concluded.

Traders anticipated next week’s Reserve Bank meeting, hoping for a pause after three rate hikes this year.

Meanwhile, consumer inflation expectations fell to 5.5% in June, the lowest since March.

The four major banks fell between 1.1% and 2.1%, while notable laggards included Sigma Healthcare (-2.9%), Goodman Group (-2.8%), South32 (-2.3%), and Northern Star Resources (-1.2%).



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ASX 200 Pares Early Drop
The ASX 200 edged down 20 points, or 0.2%, to close at 8,633 on Thursday, reversing gains in the prior session as weakness in consumer durables, logistics, and financials weighed on sentiment. Concerns over Australia’s slowing economy also grew after Westpac said home loan applications averaged 30,000 per month in the fiscal third quarter starting April, down from 33,000 in the prior quarter, underscoring the impact of global instability and domestic tax changes. Still, early weakness was trimmed amid stronger U.S. stock futures, following Washington’s announcement that strikes against Iran had concluded. Traders anticipated next week’s Reserve Bank meeting, hoping for a pause after three rate hikes this year. Meanwhile, consumer inflation expectations fell to 5.5% in June, the lowest since March. The four major banks fell between 1.1% and 2.1%, while notable laggards included Sigma Healthcare (-2.9%), Goodman Group (-2.8%), South32 (-2.3%), and Northern Star Resources (-1.2%).
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Australian Stocks Follow Wall Street Lower
Australian shares slipped 79 points, or 0.9%, to 8,574 in early Thursday trade, unwinding the prior day’s rebound as U.S. futures weakened after Wall Street’s sharp slide Wednesday on inflation worries and renewed Middle East tensions. Locally, signs of a cooling economy grew after Westpac reported average monthly mortgage applications have fallen about 18% since late 2025, reflecting uncertainty and looming tax changes. Meanwhile, Australia's business sentiment improved in May but remained firmly negative, due to concerns over the impact of elevated borrowing costs. Still, losses were tempered by hopes the Reserve Bank may pause cash rates next week after three hikes this year. Most sectors retreated, led by non-energy minerals, logistics, process industries, and financials. Lynas Rare Earths dropped 3.6%, followed by Northern Star Resources (-3.0%), and Evolution Mining (-2.5%). Mining giant BHP Group slipped 1% while the four big banks declined between 0.9% and 1.8%.
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The ASX 200 advanced 49 points, or 0.6%, to close at 8,653 on Wednesday, halting losses in the prior three sessions amid solid gains in retail trade, logistics, utilities, and transport. Traders shrugged off weaker U.S. futures, betting the Reserve Bank of Australia may pause cash rates next week after three hikes this year. Meanwhile, business sentiment in May improved, with the reading hitting a three-month high despite staying in negative readings, while business conditions held steady. In main trading partner China, annual inflation was stable at 1.2% in May, with transport costs rising while food prices posted the steepest drop in seven months. Notable gainers included Coles Group (5.0%), CSL Ltd. (3.5%), Woolworths Group (3.2%), and Aristocrat Leisure (2.2%). Three of the big four banks also rose between 0.9% and 2%. In contrast, Sigma Healthcare slumped 5.5% after confirming preliminary talks over a potential acquisition of British pharmacy chain Boots.
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