Australian Stocks Snap Six-Day Slide as Miners, Healthcare Rally

Australian shares rose 31 points or 0.4% to 9,085 in Thursday morning trade, snapping a six-session losing streak as U.S. equity futures firmed after Wall Street ended its three-day slide amid easing Treasury yields. Local markets emerged from a two-week low as bargain hunters set in. In China, the central bank left lending benchmarks unchanged for a 15th month, keeping one- and five-year LPRs at record lows to bolster growth. Domestic data, however, dampened sentiment with July employment unexpectedly falling and the jobless rate climbing to a three-month high. RBA Deputy Governor Andrew Hauser cautioned that further rate hikes may be needed if inflation risks persist, noting price growth remains “too high.” Consumer durables, non-energy minerals, healthcare, and utilities drove the strength, amid notable gains from heavyweights BHP Group (2.2%), CSL Ltd. (4.9%), and Northern Star Resources. In contrast, the four major banks bucked the trend, sliding between 1.3% and 2.2%.

The ASX 200 lost 16 points, or 0.2%, to finish at 9,054 on Wednesday, marking a sixth straight decline and a two-week low. Sentiment remained downbeat as U.S. stock futures weakened, weighed by rising oil prices, elevated Treasury yields, and an extended drop in chip stocks on Wall Street. Locally, Q2 wages in Australia rose 3.2% yoy, unchanged from the prior quarter and the weakest pace in five quarters, while caution built ahead of July labor data due Thursday. Separately, RBA Deputy Governor Andrew Hauser warned cash rates may need to rise again if inflation risks persist, stressing price growth remains “too high.” Tech led losses, followed by consumers, logistics, and financials. Whitehaven Coal tumbled 2.4% on weak earnings, and Evolution Mining shed 0.9% despite stronger FY26 profit. Three of the big four banks eased 0.1%–1.4%. In contrast, Santos gained 2.5% on higher oil prices and an interim dividend aligned with estimates, reflecting its first-half operating free cash flow.

Australian equities slipped 28 points, or 0.3%, to 9,042 in early trade on Wednesday, down for the sixth session and notching a two-week low. Sluggish U.S. stock futures weighed on sentiment after a losing session on Wall Street overnight amid a global bond rout and higher oil prices. Caution also grew ahead of the release of local data, including the Q2 wage price index later today and July labor data due Thursday. Consumer durables, financials, and logistics weighed on the ASX 200, though strength in healthcare, energy minerals, and tech capped declines. The four big banks retreated between 0.6% and 2.3%, reflecting drags from sharp declines in home-loan applications following May’s tax changes. Other major laggards included Goodman Group (-4.4%), Northern Star Resources (-1.5%), and Evolution Mining (-1.1%). In contrast, CSL (4.0%), Santos (23%), and Woodside Energy (0.9%) advanced. Traders now anticipate a speech by the Reserve Bank Deputy Governor Andrew Hauser later in the day.