The ASX 200 closed virtually unchanged on Tuesday at 8,793 after a third straight session of weakness, as gains in non-energy minerals, technology, and energy minerals were offset by declines in healthcare, retail trade, and financials. Investors remained cautious ahead of Australia’s latest labor market figures, after robust jobs growth in May contrasted with the highest unemployment rate in nearly four years.
Early losses were pared back as sentiment improved on the back of stronger U.S. stock futures, following reports of mediation efforts in the Middle East. President Trump was said to be considering a 10-day ceasefire aimed at reopening the Strait of Hormuz.
In China, Australia’s largest trading partner, authorities reiterated their commitment to achieving full-year growth targets despite softer second-quarter data, with investors looking ahead to late-July Politburo meetings for further policy signals.
At the stock level, Nextdc jumped 8.0% on stronger utilisation metrics. Energy names also gained, with Woodside Energy up 1.1% and Origin Energy advancing 1.3%. On the downside, the major banks fell between 0.6% and 1.5%, while Pro Medicus (-3.3%), Sonic Healthcare (-2.7%), and PLS Group (-1.9%) also weighed on the index.
