Australian Market Trims Early Losses In Mid-market

(RTTNews) - The Australian stock market is trimming its early losses in mid-market trading on Tuesday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,900 level, with weakness in mining and energy stocks partially offset by gains in financial stocks.

The benchmark S&P/ASX 200 Index is losing 52.00 points or 0.58 percent to 8,907.30, after hitting a low of 8,893.50 earlier. The broader All Ordinaries Index is down 49.80 points or 0.54 percent to 9,183.70. Australian stocks closed modestly lower on Monday.

Among the major miners, BHP Group is gaining more than 1 percent. Mineral Resources is losing almost 1 percent, while Rio Tinto and Fortescue are edging down 0.2 percent each.

Oil stocks are mostly lower. Woodside Energy is down almost 2 percent, Beach energy is losing almost 1 percent and Santos is declining more than 3 percent, while Origin Energy is flat.

Among tech stocks, Afterpay owner Block and Xero are advancing almost 2 percent each, while WiseTech Global is losing almost 1 percent and Appen is edging down 0.3 percent. Zip is flat.

Gold miners are mostly lower. Gold Road Resources and Evolution Mining are edging down 0.4 percent each, while Newmont and Northern Star resources are losing almost 1 percent each. Resolute Mining is gaining almost 1 percent.

Among the big four banks, National Australia Bank is gaining more than 1 percent, while Commonwealth Bank, ANZ Banking and Westpac are edging up 0.2 to 0.5 percent each.

In economic news, Australia's Westpac-Melbourne Institute Consumer Sentiment Index jumped 5.7 percent month-over-month in August 2025 to the highest level since February 2022 of 98.5, accelerating from 0.6 percent in July.

In the currency market, the Aussie dollar is trading at $0.649 on Tuesday.