Stocks in Australia Hit 9-week Low

The ASX 200 edged up to end at 8,750 on Monday, stabilising after four sessions of weakness. Consumer non-durables, commercial services, and retail trade were mainly higher, but losses in healthcare, non-energy minerals, and manufacturing capped gains. Bargain hunters entered after the Australian market hit near two-month lows, even as overall sentiment stayed cautious amid a drop in U.S. stock futures as oil prices surged following fresh Houthi strikes on Saudi Arabia and Iranian attacks on Gulf shipping. Traders also braced for the U.S. Fed’s policy meeting later this week and August activity data in top trading partner China due Tuesday. Northern Star Resources (2.5%), CSL Ltd. (2.7%), and Aristocrat Leisure (0.9%) advanced. Three of four big banks also rose. In contrast, heavyweight BHP (-0.5%) and Rio Tinto (-0.1%) eased with softer iron ore and copper prices. Mineral Resources (-4.4%), Evolution Mining (-3.2%), and Lynas Rare Earths (-2.8%) were also among notable laggards.

Australian stocks were little changed in early Monday trade, hovering near 8,737 after four straight sessions of losses. The market lingered at its weakest in almost two months last week as cost pressures and expectations of prolonged Reserve Bank tightening continued to weigh on sentiment. Meanwhile, U.S. equity futures dropped sharply as oil prices jumped following weekend strikes on Saudi Arabia and Gulf shipping. Gains in consumer non-durables, energy minerals, and commercial services offset declines in healthcare, manufacturing, and non-energy minerals. Three of the four major banks rose modestly, while energy names Woodside (0.8%) and Santos (0.9%) advanced. On the downside, BHP slipped 1.1%, Goodman Group fell 1%, Evolution Mining dropped 2.5%, and Lynas Rare Earths tumbled 3.3%. Traders now await remarks from RBA’s Sarah Hunter later today and key activity data from top trading partner China this week.

ASX200 decreased to 8699.00 Index Points, the lowest since July 2026. Over the past 4 weeks, Australia Stock Market Index (AU200) lost 5.46%, and in the last 12 months, it decreased 1.79%.