The ASX 200 ended Monday’s session virtually flat at 9,011, as strength in non-energy minerals, energy, and logistics was offset by weakness in technology, commercial services, and healthcare. Early gains faded after U.S. stock futures turned lower on escalating tensions in the Middle East, with renewed tit-for-tat strikes between Washington and Tehran targeting vessels in the Strait of Hormuz and other areas over the weekend. U.S. markets were closed on Monday for a public holiday, reducing offshore leads.
On the domestic front, job advertisements rose for a second consecutive month in August, supported by seasonal hiring ahead of the Christmas period. In Australia’s key trading partner China, investors are bracing for a series of important data releases this week, including August CPI, PPI, and trade figures.
Energy names outperformed, with Woodside adding 1.6% and Santos advancing 1.7%. Ingenia Communities jumped nearly 15% after it rejected a takeover proposal from Warburg Pincus that valued the developer at about a 30% premium. The tech sector lagged, dragged lower by Xero (-3.9%) and Wisetech (-3.8%), while two of the big four banks delivered muted performances.
