ASX 200 Closes at 4-Week Low Despite Q2 GDP Beat

2026-09-02 06:47 By Farida Husna 1 min. read

Australia’s ASX 200 fell 88 points, or 1.0%, to end at 8,978 on Wednesday, its third straight loss and a four-week low, as sentiment soured after Wall Street extended falls for the third session Tuesday amid renewed Middle East conflict, which lifted oil prices and stoked inflation fears and rate-hike bets.

Locally, worries over supply disruption and inflation kept traders edgy, with markets pricing in nearly a 60% chance of an RBA hike later this month.

Traders also braced for July trade data due Thursday after June’s strong exports and subdued imports.

Still, losses were capped by stronger-than-expected Q2 GDP data, driven by private demand and mining exports.

Sectoral weakness was broad, led by non-energy minerals, commercial services, and consumer names.

BHP Group (-3.6%) and Rio Tinto (-1.9%) dragged miners lower, while weaker bullion hit Northern Star Resources (-5.0%) and Evolution Mining (-1.9%).

In contrast, Woodside Energy rose 1.2%, and the big four banks added 0.2% to 0.5%.



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ASX 200 Closes at 4-Week Low Despite Q2 GDP Beat
Australia’s ASX 200 fell 88 points, or 1.0%, to end at 8,978 on Wednesday, its third straight loss and a four-week low, as sentiment soured after Wall Street extended falls for the third session Tuesday amid renewed Middle East conflict, which lifted oil prices and stoked inflation fears and rate-hike bets. Locally, worries over supply disruption and inflation kept traders edgy, with markets pricing in nearly a 60% chance of an RBA hike later this month. Traders also braced for July trade data due Thursday after June’s strong exports and subdued imports. Still, losses were capped by stronger-than-expected Q2 GDP data, driven by private demand and mining exports. Sectoral weakness was broad, led by non-energy minerals, commercial services, and consumer names. BHP Group (-3.6%) and Rio Tinto (-1.9%) dragged miners lower, while weaker bullion hit Northern Star Resources (-5.0%) and Evolution Mining (-1.9%). In contrast, Woodside Energy rose 1.2%, and the big four banks added 0.2% to 0.5%.
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Australian Stock Extend Slide, Notch 1-Month Trough
Australian shares slumped 118 points or 1.3% to 8,950 in early Wednesday trade, marking a third straight session of decline and the lowest level in a month. Overnight losses on Wall Street pressured sentiment, with surging bond yields and higher oil prices stoking inflation and rate-hike fears. Locally, caution mounted ahead of Q2 GDP data due later today, with growth expected to stay sluggish after last quarter’s weakest pace in a year. Meanwhile, July trade figures are also due Thursday following June’s export surge and subdued imports. Losses were broad, led by commercial services, non-energy minerals, healthcare, and consumer stocks. Heavyweights BHP Group (-2.8%) and Rio Tinto (-1.3%) dragged, alongside Northern Star Resources (-4.7%), Evolution Mining (-4.2%), and Pro Medicus (-3.6%). Meanwhile, the big four banks eased modestly. Energy names bucked the trend, with Woodside Energy up 2.0% and Santos climbing 1.3%, helping cap the overall decline.
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ASX 200 Down Slightly at Finish
The ASX 200 edged lower to close at 9,067 on Tuesday, marking a second straight decline as weakness in retail trade, tech, and commercial services weighed. Sentiment stayed cautious ahead of Australia's Q2 GDP data due Wednesday, with growth expected to remain sluggish after the weakest pace in a year last quarter. Meanwhile, fresh figures showed a record current account deficit of AUD 27.2 billion in Q2, though the shortfall came in below forecasts. Still, losses were partly offset by a private survey indicating factory activity in main trading partner China accelerated in July, with output, new orders, and foreign sales all rising. Meanwhile, U.S. stock futures inched higher after Wall Street’s Monday retreat, still managing monthly gains. The four big banks eased slightly, while REA Group (-4.3%), Westfarmers (-3.2%), and Woolworths (-2.7%) also dragged. Energy names outperformed, with Woodside Energy up 1.1% and Santos jumping 1.8%.
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