Australian shares steady near 8,910 ahead of China trade data

Australian shares steadied on Wednesday morning, hovering near 8,910 after Tuesday’s sharp drop to a six-week low. Bargain hunting in non-energy minerals, energy stocks, and tech helped offset weakness in healthcare, commercial services, and financials. Sentiment remained fragile as oil prices surged and global inflation worries deepened, with local business confidence slipping to a three-month low in August and consumer sentiment sliding in September. S.

futures weakened after Wall Street’s overnight losses, driven by escalating Middle East tensions following attacks on Saudi energy facilities. On the trade front, China logged robust exports and imports in August, with trade surplus topping USD 800 billion so far this year. 4%. 1% and 1%.

Traders now await CPI and PPI data from main trading partner China later today.