The ASX 200 fell 82 points, or 0.9%, to close at 8,829 on Friday, marking a second consecutive session of losses and pulling back further from its two-month high. Risk appetite remained weak after the U.S. Federal Reserve adopted a hawkish stance at its policy meeting earlier in the week, increasing the likelihood of further U.S. rate hikes later this year. Sentiment was also pressured by growing uncertainty around planned U.S.–Iran peace talks, as Tehran sought clearer evidence of the implementation of a recently signed memorandum of understanding with Washington.
Non-energy minerals, commercial services, consumer durables, and industrials were among the worst-performing sectors. BHP Group slumped 5.1% after warning of cost overruns at its Jansen Stage 2 potash project in Canada and recognizing a substantial impairment charge. Other notable decliners included Evolution Mining (-5.1%), PLS Group (-4.7%), and REA Group (-3.1%).
Despite Friday’s downturn, the benchmark index still gained 0.3% over the week—its second consecutive weekly advance—supported by the Reserve Bank’s decision to keep interest rates on hold.
