ASX 200 Eases Slightly After Trimming Early Losses

The ASX 200 fell 29 points, or 0.3%, to close at 8,817 on Tuesday, reversing gains in the prior two sessions and retreating from a near five-week high, as weaker U.S. stock futures and mounting concerns over AI spending weighed on sentiment. Locally, Reserve Bank of Australia Assistant Governor Kent cautioned against over-interpreting monthly labor market data but noted easing, with September employment unexpectedly down while the jobless rate stayed at 4.7%, a five-year high. Still, early weakness was cut as China’s Q3 GDP and September activity beat forecasts, buoyed by Golden Week demand. Logistics, tech, energy, and non-energy minerals dragged the index, with BHP Group (-1.6%), South32 (-2.4%), Northern Star Resources (-1.7%), and Ramsay Health Care (-1.6%) among notable laggards. Three of the big four banks fell between 0.8%—1.8%. In contrast, Cochlear Ltd. surged 5.2% as shorter-term fiscal 2027 revenue targets looked achievable despite rising competition.