The ASX 200 fell 60 points, or 0.7%, to close at 8,749 on Thursday, wiping out modest gains from the previous session and hitting a two-week low. A stronger-than-expected rise in Australian employment in May reinforced expectations that the Reserve Bank will maintain a hawkish policy stance, with Deputy Governor Andrew Hauser warning that inflation remains “too high” and that further policy tightening may be required.
Losses were partly limited by firmer U.S. stock futures following a third consecutive decline on Wall Street for the S&P 500 and Nasdaq, driven by weakness in technology shares. Sector-wise, non-energy minerals, energy, electronic technology, and industrial services weighed on the market. Gold miners came under pressure as bullion fell to a seven-month low, with notable declines in Evolution Mining (-3.9%) and Northern Star Resources (-3.1%).
The major banks also retreated, losing between 1.2% and 3.7%. In the energy space, Woodside (-3.3%) and Santos (-2.6%) declined as oil prices slipped back to pre-Iran war levels. Elsewhere, Judo Capital tumbled 39% after cutting its earnings guidance for 2026.
