Australia Equities Inch Up Ahead of CPI, Jobs data

2026-06-23 01:21 By Farida Husna 1 min. read

Australian equities edged higher in early Tuesday trade, hovering around 8,830 after three sessions of losses.

Investors awaited key May CPI and labor market data that could shape expectations for the Reserve Bank’s next move after it held rates steady last week.

In China, the largest trading partner, the central bank kept lending rates unchanged for a 13th month despite cooling demand, with consumption and investment slowing in May.

In the U.S., Wall Street closed mostly lower overnight as tech giants sold off, capping sentiment.

Gains came from financials, non-energy minerals, and consumer durables, while weakness in electronic tech, healthcare, and logistics limited advances.

The four big banks rose between 0.1% and 1%.

Other notable movers were BHP Group (0.9%), Macquarie Group (1.4%), and Fortescue (0.8%).

Lynas Rare Earths gained 0.5% after China expanded export controls on dual-use materials, reinforcing its premium as the largest non-Chinese producer of separated rare earths.



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ASX 200 Finishes 0.3% Lower
Australia's ASX 200 fell 29 points or 0.3% to close at 8,787 on Tuesday, sliding for a fourth straight session and reversing early gains as U.S. stock futures dropped sharply on a Wall Street tech sell-off and rising bond yields. The benchmark index hit its lowest in over a week as caution built ahead of domestic CPI data Wednesday and labor market figures later this week, both seen as key for the Reserve Bank’s next move after holding cash rates steady last week. Losses were broad, led by electronic tech, producer manufacturing, logistics, and consumer sectors. Viva Energy dropped 3% after confirming its Geelong refinery will restart this week following April’s fire but will operate without its alkylation unit until 2027, curbing gasoline output. Miners also weighed, with Northern Star down 2.8%, Evolution Mining off 2.2%, and Fortescue easing 1.5%. In contrast, the four major banks advanced between 0.4% and 0.9%, tempering declines.
2026-06-23
Australia Equities Inch Up Ahead of CPI, Jobs data
Australian equities edged higher in early Tuesday trade, hovering around 8,830 after three sessions of losses. Investors awaited key May CPI and labor market data that could shape expectations for the Reserve Bank’s next move after it held rates steady last week. In China, the largest trading partner, the central bank kept lending rates unchanged for a 13th month despite cooling demand, with consumption and investment slowing in May. In the U.S., Wall Street closed mostly lower overnight as tech giants sold off, capping sentiment. Gains came from financials, non-energy minerals, and consumer durables, while weakness in electronic tech, healthcare, and logistics limited advances. The four big banks rose between 0.1% and 1%. Other notable movers were BHP Group (0.9%), Macquarie Group (1.4%), and Fortescue (0.8%). Lynas Rare Earths gained 0.5% after China expanded export controls on dual-use materials, reinforcing its premium as the largest non-Chinese producer of separated rare earths.
2026-06-23
ASX 200 Ends Subdued
The ASX 50 closed little changed at 8,822 on Monday, as gains in logistics, industrial services, and financials offset losses in electronic tech, consumer stocks, and healthcare. The muted tone followed two sessions of losses, with sentiment fragile even after reports said that U.S. and Iranian officials had agreed on a roadmap to reach a final deal within 60 days. Traders also awaited U.S. inflation data later this week for signals on the Fed’s policy path, while local focus turned to May CPI and labor figures that could shape expectations for the Reserve Bank of Australia’s next move after it held rates steady last week. SGH Ltd. jumped 3.3% after unveiling a buyback of up to AUD 500 million, while two of the big four banks rose between 0.3% and 0.6%. On the downside, Wisetech Global tumbled 16.1% after police opened a probe into its founder over alleged visa misconduct and exploitation claims. Other laggards included Xero (-3.5%), TPG Telecom (-3.2%), and Nextdc Ltd. (-2.8%).
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