Australian shares edged lower to around 8,819 on Monday, marking a third consecutive session of losses. Sentiment deteriorated as U.S. stock futures weakened amid renewed uncertainty over the Middle East peace process. President Donald Trump threatened further military action against Iran, despite Vice President JD Vance holding talks with Iranian officials under an interim peace agreement. Investors also looked ahead to key U.S. inflation data due later this week for further guidance on the Federal Reserve’s policy outlook.
Domestically, focus is turning to May CPI and labor market figures, which could influence expectations for the Reserve Bank’s next move after it kept interest rates on hold last week. Technology, mining, and energy stocks led the downturn, while logistics, industrial services, and healthcare names provided some support. BHP Group slipped 1.3%, and two of the four major banks finished lower. Meanwhile, WiseTech Global plunged 12% after police opened an investigation into its founder over alleged visa-related misconduct and exploitation.
