The ASX 200 slipped 19 points, or 0.2%, to close at 8,785 on Wednesday, extending its decline to a third straight session. Sentiment was weighed down by weaker U.S. stock futures and renewed geopolitical tensions in the Middle East, after Washington launched a series of strikes against Iran on Tuesday in response to attacks on three commercial vessels in the Strait of Hormuz.
Caution also prevailed ahead of key data from China, Australia’s largest trading partner, with June CPI and PPI figures due Thursday. However, early losses were pared after RBA Assistant Governor Sarah Hunter said overall economic activity remains resilient despite softer consumer and business confidence following the recent oil shock.
Selling pressure was broad-based across sectors, with electronic technology, non-energy minerals, and industrial services among the weakest performers. BHP dropped 2.3% after workers announced plans to strike on July 16 at its Western Australia iron ore terminal, seeking recognition of specialist skills and higher cost allowances. Other notable decliners included Evolution Mining (-4.2%), Mineral Resources (-3.4%), and Greatland Resources (-2.8%).
