The ASX 200 slipped 21 points, or 0.2%, to close at 8,604 on Tuesday, logging a third straight decline after fresh data showed Australian consumer confidence fell in June, reversing May’s gain and marking its fourth drop this year amid persistent cost-of-living pressures. Separately, business sentiment improved in May but remained firmly negative, reflecting ongoing concerns about the impact of elevated borrowing costs.
Losses were pared later in the session after stronger-than-expected May trade data from China, Australia’s largest trading partner, showed exports hitting a record high and imports accelerating.
Investors are now focused on next week’s Reserve Bank of Australia policy meeting, where markets widely expect the central bank to keep rates on hold after three hikes since January.
In the US, stock futures advanced, supported by a rebound in chipmakers on Wall Street on Monday. On the local market, notable decliners included Lynas Rare Earths (-4.5%), Evolution Mining (-4.2%), Fortescue (-3.5%), and heavyweight BHP Group (-1.7%). Among the major banks, two of the four big lenders lost between 0.5% and 1%.
