Australian Shares Under Strain as October Begins

2026-10-01 01:22 By Farida Husna 1 min. read

Australian stocks tumbled 119 points, or 1.4%, to 8,669 in early October trade, erasing prior gains as Wall Street closed mostly lower overnight on rising U.S.

Treasury yields and weakness in financials and defensives.

Locally, home values fell for a sixth straight month in September amid plunging transaction volumes, with another rate hike this week expected to trigger the worst downturn in three decades.

Factory activity also shrank at the fastest pace in 21 months as new orders weakened under rising costs and softer demand.

Losses were broad, led by energy minerals, financials, healthcare, and logistics.

Lynas Rare Earths tumbled 5.5%, Suncorp Group dropped 5.1%, PLS Group fell 3.0%, and Ampol lost 2.5%.

The four big banks also posted notable declines.

Still, weakness was tempered after RBA Governor Michele Bullock signaled September’s hike could be the last following four increases this year.

Traders now await August trade data due later today.



News Stream
Stocks in Australia Hit 16-week Low
ASX200 decreased to 8639.00 Index Points, the lowest since June 2026. Over the past 4 weeks, Australia Stock Market Index (AU200) lost 3.74%, and in the last 12 months, it decreased 3.39%.
2026-10-01
Australian Shares Under Strain as October Begins
Australian stocks tumbled 119 points, or 1.4%, to 8,669 in early October trade, erasing prior gains as Wall Street closed mostly lower overnight on rising U.S. Treasury yields and weakness in financials and defensives. Locally, home values fell for a sixth straight month in September amid plunging transaction volumes, with another rate hike this week expected to trigger the worst downturn in three decades. Factory activity also shrank at the fastest pace in 21 months as new orders weakened under rising costs and softer demand. Losses were broad, led by energy minerals, financials, healthcare, and logistics. Lynas Rare Earths tumbled 5.5%, Suncorp Group dropped 5.1%, PLS Group fell 3.0%, and Ampol lost 2.5%. The four big banks also posted notable declines. Still, weakness was tempered after RBA Governor Michele Bullock signaled September’s hike could be the last following four increases this year. Traders now await August trade data due later today.
2026-10-01
ASX 200 Extends Quarterly Gains Despite Monthly Setback
The ASX 200 rose 80 points, or 0.9%, to close at 8,789 on Wednesday, the final trading day of September, extending gains for a third straight session as firmer U.S. futures boosted sentiment ahead of the PCE price index, the Fed’s preferred inflation gauge, and Friday’s jobs report. Reserve Bank of Australia's Governor Michele Bullock reportedly signaled the September hike could be the last, a dovish cue for traders. Meanwhile, annual inflation eased to 4% in August, just below forecasts of 4.1%, while trimmed mean CPI held at 3.6%. All sectors strengthened, led by tech, transport, logistics, and consumer durables. Notable movers included Goodman Group (4.0%), Wesfarmers (3.6%), Brambles (2.4%), and Northern Star Resources (6.5%). The big four banks were muted. For the month, the local market fell 3.2%, snapping five months of gains, pressured by housing and fuel costs, sticky inflation, and higher borrowing rates. Still, the index managed a second straight quarterly rise, up 0.12%.
2026-09-30