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Australia’s ASX 200 Index tumbled 1.32% on Thursday morning, putting the Index on track for a four-day losing streak. While the losses were broad-based, banking and mining stocks bore the brunt of the sell-off.
ANZ (ANZ) and National Australia Bank (NAB) slid by 3.19% and 3.60%, respectively. The banking sector remained under pressure after weak earnings reports from the major Aussie banks.
The mining sector also faced a challenging session after Fortescue Ltd. reported a slump in profits and slashed its dividend. Fortescue Ltd. (FMG) tumbled 5.91%, while BHP Group Ltd. (BHP) and Rio Tinto Ltd. (RIO) fell 2.26% and 1.86%, respectively.
Meanwhile, fears of a less dovish RBA rate path added to negative sentiment. A surge in full-time employment and a higher participation rate tempered bets on a near-term RBA rate cut.
Outlook: Key Risks and Opportunities
Looking ahead, corporate earnings, central bank policy signals, and US tariff developments will be key drivers.
While AI-driven innovation and strategic partnerships could support growth, ongoing tariff uncertainty may fuel further volatility.
Get ahead of market shifts with expert insights and in-depth analysis here—stay informed and make smarter investment decisions.
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