ASX 200 Extends Losing Streak to Four

The ASX 200 fell 23 points or 0.3% to end at 8,762 on Thursday, down for the fourth session after U.S. President Trump dismissed further talks with Iran and warned of additional strikes, eroding hopes for Middle East stability. Meanwhile, the International Monetary Fund trimmed its 2026 growth forecast for Australia to 1.9% from the previous projection of 2%, adding that consumer price inflation will remain stubbornly high, likely around 4% for 2026. Process industries, non-energy minerals, healthcare, and consumer non-durables weighed, partly offset by strength in consumer durables, energy minerals, retail trade, and industrial services. Heavyweight BHP Group slipped 1.1% while Rio Tinto tumbled 3.3%, weighed by lower copper prices. Gold stocks also fell, with Evolution Mining and Northern Star Resources slipping 1.7% and 0.9%, respectively. Three of four big banks lost between 0.1% and 0.8%.

Australian shares dipped 73 points or 0.8% to 8,711 in early deals on Thursday, sliding for the fourth straight session amid weakness in most sectors, notably non-energy minerals, healthcare, process industries, and financials. Nerves persisted ahead of June CPI and PPI data in main trading partner China later in the day. Locally, Reserve Bank Assistant Governor Sarah Hunter warned that if inflation expectations rise, restoring stability may require “some period of low inflation and higher unemployment.” Still, losses were capped by U.S. stock futures that edged higher following a mixed session on Wall Street overnight as geopolitical tensions and rising oil prices weighed on sentiment. The four big banks lost between 0.8% and 1.4% while other notable decliners included heavyweight BHP Group (-1.6%), Pro Medicus (-2.7%), Wisetech Global (-2.1%), and Sonic Healthcare (-1.8%). In contrast, energy names gained, such as Woodside Energy (1.2%) and Santos (0.9%).

The ASX 200 lost 19 points or 0.2% to finish at 8,785 on Wednesday, down for the third session amid weaker U.S. stock futures following renewed tensions in the Middle East after Washington started a series of strikes against Iran Tuesday in response to attacks against three commercial vessels in the Strait of Hormuz. Nerves also persisted as top trading partner China is set to release key data Thursday, including CPI and PPI figures for June. Still, early losses were trimmed by RBA Assistant Governor Sarah Hunter, who noted economic activity stays resilient despite weaker consumer and business mood after the oil shock. Sectoral pressure was broad, with electronic tech, non-energy minerals, and industrial services dragging. BHP fell 2.3% after workers announced plans to strike on July 16 at its WA iron ore terminal, demanding recognition of specialist skills and costs. Other notable laggards included Evolution Mining (-4.2%), Mineral Resources (-3.4%), and Greatland Resources (-2.8%).