29.04.202606:43:05UTC+00ASX 200 Falls for Seventh Session, Closes at 3-Week Low

The S&P/ASX 200 fell 24 points, or 0.3%, to close at 8,687 on Wednesday, extending its losing streak to a seventh straight session and hitting a three-week low. Sentiment remained subdued after fresh data showed Australia’s annual inflation quickened to 4.6% in March from 3.7%, staying above the RBA’s 2–3% target, though marginally below market expectations of 4.7%. The data highlighted persistent cost pressures that have intensified since mid-2025.

The Reserve Bank is set to meet next week, following interest rate increases in February and March. Losses on the local market were partly cushioned by stronger U.S. stock futures ahead of the Federal Reserve’s policy decision due later today, before Jerome Powell hands over the chairmanship to Kevin Warsh in May.

On a sector level, declines were led by non-energy minerals, consumer non-durables, healthcare, and logistics. Gains in consumer durables and energy minerals helped moderate the overall fall. Among notable underperformers, Westgold Resources dropped 3.3% and CSL Ltd. slid 2.4%, while three of the four major banks lost between 1% and 1.4%.