Australian Market Slips To Modest Losses In Mid-market
(RTTNews) - The Australian stock market is slipping to modest losses in mid-market moves on Wednesday after opening well in the green, snapping a three-session winning streak, with the benchmark S&P/ASX 200 falling well below the 8,950 level, following the mixed cues from Wall Street overnight, with gains in gold miners and energy stocks amid spiking commodity prices, partially offset by weakness in financial and technology stocks.
The benchmark S&P/ASX 200 Index is losing 26.30 points or 0.29 percent to 8,915.30, after touching a high of 8,978.50 earlier. The broader All Ordinaries Index is down 34.90 points or 0.38 percent to 9,233.60. Australian stocks ended significantly higher on Tuesday.
Among major miners, BHP Group is edging up 0.3 percent and Rio Tinto is gaining more than 1 percent, while Fortescue is down more than 1 percent and Mineral Resources is losing almost 1 percent.
Oil stocks are mostly higher. Santos is gaining more than 1 percent and Woodside Energy is advancing more than 2 percent, while Origin Energy and Beach energy are adding almost 1 percent each.
In the tech space, Afterpay owner Block is declining more than 4 percent, Xero is slipping more than 1 percent, WiseTech Global is losing almost 3 percent and Zip is down almost 2 percent, while Appen is edging up 0.5 percent.
Among the big four banks, ANZ Banking, Westpac and National Australia bank are edging down 0.3 to 0.5 percent each. Commonwealth Bank is flat. Among gold miners, Evolution Mining and Genesis Minerals are gaining almost 2 percent each, while Resolute Mining is edging up 0.5 percent, Northern Star Resources is advancing almost 4 percent and Newmont is adding almost 1 percent.
In economic news, Australia's annual inflation accelerated to 3.8 percent in December 2025 from 3.4 percent in November, which was the lowest in three months, surpassing market forecasts of 3.6 percent and remaining above the RBA's 2 to3 percent target.
In the currency market, the Aussie dollar is trading at $0.699 on Wednesday.
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