ASX 200 Ends Muted, China GDP in Focus

The ASX 200 closed flat at 8,808 on Tuesday, marking a second subdued session as traders tracked escalating tensions in the Middle East. The U.S. launched a third night of strikes against Iran, while two tankers were hit in the Strait of Hormuz after Washington reinstated its blockade of Iranian shipping. Domestic data showed Australia's consumer sentiment rebounded in July but remained among the weakest readings in the survey’s 50-year history, underscoring vulnerability to global shocks. Business confidence, however, climbed to a four-month high in June. In main trading partner China, record June trade figures set the stage for Q2 GDP due Wednesday. Logistics, tech, and utilities slipped, offset by gains in energy, consumer services, and healthcare. Rio Tinto eased 0.3% ahead of production results, and the big four banks fell 0.9–1.5%. Nextdc, Pro Medicus, and Qantas also declined. On the upside, BHP rose 0.9%, along with Woodside (3.3%) and Santos (1.3%).

Australian stocks slipped 35 points, or 0.4%, to 8,773 in early trade on Tuesday, after a muted prior session. Weaker U.S. futures dampened sentiment following Wall Street’s overnight retreat, triggered by President Donald Trump’s vow to reinstate a blockade on Iranian shipping through the Strait of Hormuz. Traders also kept a cautious stance ahead of June trade figures later today from China, a key partner, after robust export and import growth in May. Locally, consumer confidence showed some recovery in July, though the index remains historically fragile and exposed to global shocks. Selling pressure weighed on electronic technology, healthcare, logistics, and financials, while gains in energy minerals, commercial services, and communications helped cap losses. The four major banks dropped between 0.7% and 1.6%, with notable declines in Caricorn Metals (-3.6%), Nextdc Ltd. (-2.8%), Greatland Resources (-2.5%), and Perseus Mining (-1.6%).

The ASX 200 closed almost flat at 8,808 on Monday, with strength in communications, finance, and energy minerals offsetting weakness in tech, industrials, and consumer stocks. The local market pulled back from the prior session’s gains amid weaker U.S. stock futures, with traders anticipating a heavy week of catalysts, including U.S. inflation data and Fed Chair Warsh’s testimony, alongside June trade performance and Q2 GDP releases in main trading partner China. Locally, July consumer and business mood will also be due this week. Mining names eased ahead of quarterly updates, with BHP (-0.1%) and Rio Tinto (-0.3%) inching lower, while tech lagged on sharp falls in Xero (-4.5%) and WiseTech (-2.1%). Gold miners also slipped, led by Northern Star (-2.6%) and Evolution (-1.6%). In contrast, Woodside Energy rose 0.9% as oil prices climbed on renewed Middle East tensions after fresh U.S. strikes on Iran. The big four banks added between 0.3% and 1.3%, lending support to the broader index.