Australian equities were little changed in Tuesday morning trade, holding near 8,674 after modest gains in the previous session. Strength in consumer durables, technology, and manufacturing was largely offset by weakness in commercial services, utilities, and energy minerals.
Investors were awaiting August household spending figures later today, following three consecutive monthly increases, while key inflation data are due in the coming days. On the monetary policy front, the Reserve Bank is scheduled to announce its decision this afternoon, with markets widely expecting another rate hike after three increases so far this year amid persistently high inflation.
Overnight on Wall Street, U.S. stocks finished lower as a jump in Treasury yields, heightened geopolitical tensions, and rising oil prices fueled volatility.
In local stock moves, Codan Ltd. surged 16.4%, South32 advanced 2.6%, and Nextdc added 1.2%. On the downside, Greatland Resources slipped 2.3%, Cochlear declined 2.0%, and Regis Resources edged 1.2% lower.
