Australian Shares Inch Lower

Australian stocks slipped 21 points, or 0.2%, to 8,762 in early Tuesday trade, snapping a two-session winning streak as weaker U.S. stock futures followed a mixed Wall Street close. Rising crude oil prices heightened inflation concerns ahead of key U.S. CPI data and the start of earnings season. Domestically, investors turned cautious ahead of September business confidence figures due later today and labor market data in the coming days. Attention also turned to China, Australia's key trading partner, with CPI, PPI, and trade data due for further clues on economic momentum. Sectoral losses in non-energy minerals, technology, and consumer durables outweighed gains in energy minerals, financials, and retail trade. Mining heavyweights BHP Group fell 1.6%, while Fortescue dropped 2.1% and South32 slumped 3.3%. Healthcare technology firm Pro Medicus also declined 1.6%. In contrast, three of Australia's four major banks posted modest gains, helping limit the broader market's losses.

The ASX 200 advanced 67 points, or 0.8%, to close at a one-week high of 8,783 on Monday, extending prior gains as stronger U.S. stock futures followed a drop in oil prices. Sentiment improved after President Trump said Russia and Ukraine would not target each other’s energy facilities, while Iran sought talks with Saudi Arabia following Houthi attacks. Australia, meantime, raised its travel advisory for Saudi Arabia to “Do Not Travel.” Gains were led by commercial services, manufacturing, and non-energy minerals, offsetting falls in communications, tech, and industrials. Heavyweights BHP Group and Rio Tinto jumped 2.4% and 1.3%, and the big four banks climbed between 1%–2.3%. Other standouts included Bluescope Steel (3.7%), Sandfire Resources (3.5%), Xero (3.3%), and Seek (2.3%). Investors now await the Reserve Bank’s meeting minutes, alongside September labor market, business confidence, and leading index data. In China, focus turns to CPI, PPI, and trade figures due later this week.

Australian shares rose 24 points or 0.3% to 8,740 in early Monday trade, sustaining prior gains as U.S. futures firmed after Wall Street closed higher last week ahead of a busy run of earnings and inflation data. Locally, investors awaited the Reserve Bank's latest meeting minutes later this week, alongside September labor market, business confidence, and leading index figures. Focus in China, Australia's largest trading partner, turned to CPI/PPI and trade performance. However, gains were tempered by geopolitical risks after reports that U.S. President Donald Trump may join Saudi Arabia in retaliating against Iran-backed Houthis in Yemen. Tech, manufacturing, and consumer durables led advances, though steep losses in communications capped momentum. Notable movers included BHP Group (2.3%), Bluescope Steel (3.2%), South32 (2.8%), and Fortescue Ltd. (1.6%), while three of the four major banks added between 0.2% and 0.8%.