Stocks in Australia Hit 4-week Low

Australian equities were little changed in early Monday trade, hovering near 9,090 after the prior session’s rise. Traders braced for a busy data slate, including Q2 business inventories, company gross profits, July private credit, and the monthly inflation gauge, with Q2 GDP and July trade figures due later this week. China’s July PMI readings were also awaited. Meanwhile, U.S. futures weakened after Fed Chair Warsh’s hawkish remarks bolstered bets on a September rate hike, while reports said the U.S. struck Iranian rocket launchers preparing to mine the Strait of Hormuz, ending weeks of calm. Declines in tech, industrials, and non-energy minerals nearly offset gains in financials and energy minerals. The big four banks rose 1.6%–2.2%, with Ampol Ltd. up 1.6% and Whitehaven Coal adding 1.5%. On the downside, BHP Group fell 1.7%, along with Northern Star Resources (-4.6%). Still, markets are on track for a fifth straight monthly gain, up about 1.4% so far, supported by bargain hunting.

ASX200 decreased to 9007.00 Index Points, the lowest since August 2026. Over the past 4 weeks, Australia Stock Market Index (AU200) lost 0.34%, and in the last 12 months, it increased 0.39%.

The ASX 200 rose 54 points, or 0.6%, to close at 9,092 on Friday, halting a two-day losing streak as strength in commercial services, tech, healthcare, and energy minerals lifted sentiment. Traders looked ahead to next week’s key domestic releases in Australia, including Q2 GDP and July trade figures, while in main trading partner China, July PMI readings from both official and private surveys are due. Gains were capped, however, as U.S. stock futures traded mostly lower, with investors cautious ahead of Fed Chair Kevin Warsh’s Jackson Hole speech for signals on the rate path. Locally, concerns lingered that the cash rate may stay higher for longer after hotter-than-expected July inflation, fuelling bets on a hike at the next RBA meeting. Standouts included Xero (5.2%), PLS Group (3.8%), and Wisetech Global (3.1%). The big four banks rallied, while heavyweight BHP added 0.9%. For the week, markets rose 0.4%, marking the first gain in three weeks.