13.07.202600:58:07UTC+00Australia Stocks Opens Week on Softer Footing

Australian shares edged lower in early Monday trade, with the ASX 200 hovering around 8,797 after last week’s strong gains. Sentiment was pressured by softer U.S. futures and renewed geopolitical tensions, following reports of U.S.–Iran airstrikes and Tehran’s closure of the Strait of Hormuz, which curbed risk appetite. Caution also prevailed ahead of key economic data from China, Australia’s largest trading partner, including Q2 GDP and June activity indicators due this week. Domestically, investors are awaiting July confidence surveys for households and businesses, as well as updated inflation expectations. Sector performance was mixed: technology services, industrials, and healthcare retreated, with Northern Star (-2.5%), Coles (-2.0%), Evolution (-1.4%), and Origin (-2.7%) among the notable underperformers. By contrast, miners lent some support, with BHP up 0.5% and Rio Tinto higher by 0.2%. Financials were slightly stronger, as three of the big four banks advanced between 0.1% and 0.4%.