Australian shares slipped 28 points, or 0.3%, to 8,866 in Tuesday morning trade, giving back part of the previous session’s gains as weaker U.S. equity futures dampened risk appetite after another sharp sell-off in Wall Street chipmakers overnight. Sentiment was further pressured by caution ahead of Australia’s June and Q2 inflation releases later this week, with persistent price pressures still a key concern.
Investors were also watching for comments from Reserve Bank Governor Michele Bullock, who is scheduled to speak later today, as well as the upcoming U.S. Federal Reserve policy decision. Losses were partly limited, however, after U.S. President Trump said Washington and Tehran were engaged in diplomatic talks aimed at easing geopolitical tensions.
Sector-wise, technology, non-energy minerals, industrial services, and consumer durables led the declines. The big four banks edged lower, shedding between 0.1% and 0.7%. Among heavyweights, BHP Group lost 1.0%, while Evolution Mining fell 1.8%, Santos Ltd. dropped 1.3%, and Macquarie Group declined 1.1%.
