ASX 200 falls to two-week low as tech, banks weaken
Australia’s ASX 200 slipped 16 points, or 0.2%, to 9,054 on Wednesday, its sixth straight decline and a two-week low, as U.S. futures, oil, Treasury yields and chip stocks weighed on sentiment.
The ASX 200 slipped 16 points, or 0.2%, to close at 9,054 on Wednesday, marking a sixth straight decline and a two-week low.
Sentiment remained downbeat as U.S. stock futures weakened, weighed by rising oil prices, elevated Treasury yields, and an extended drop in chip stocks on Wall Street.
Locally, Q2 wages in Australia rose 3.2% yoy, unchanged from the prior quarter and the weakest pace in five quarters, while caution built ahead of July labor data due Thursday.
Separately, RBA Deputy Governor Andrew Hauser warned cash rates may need to rise again if inflation risks persist, stressing price growth remains “too high.” Tech led losses, followed by consumers, logistics, and financials.
Whitehaven Coal tumbled 2.4% on weak earnings, and Evolution Mining shed 0.9% despite stronger FY26 profit.
Three of the big four banks eased 0.1%—1.4%.
In contrast, Santos gained 2.5% on higher oil prices and an interim dividend aligned with estimates, reflecting its first-half operating free cash flow.