Australia’s ASX 200 slipped 0.1% to close at 8,911 on Wednesday, marking a six-week low as risk appetite waned amid oil’s approach toward USD 100 and intensifying global inflation concerns. Domestically, business confidence fell to a three-month trough in August, while consumer sentiment weakened further in September. Across the region, equity markets retreated following reports that Iran had escalated geopolitical tensions by firing missiles at a U.S. base in Jordan and attacking vessels in the Strait of Hormuz. In China, Australia’s largest trading partner, headline inflation accelerated in August in line with expectations, while producer prices rose more than forecast.
Sector-wise, healthcare, financials, and commercial services dragged on the index. CSL dropped 2.0% after cutting its FY26 guidance and flagging softer plasma demand alongside mounting generic competition. The big four banks declined between 0.4% and 2.2%. Losses were partially offset by gains in non-energy minerals, energy, and industrial services. Energy majors Woodside and Santos advanced 2.7% and 1.8%, respectively, while mining heavyweights BHP and Rio Tinto climbed 2.8% and 2.3%.
