12.11.202600:43:07UTC+00Australian Stocks Slip from 11-Week Peak

Australian shares fell 40 points, or 0.4%, to 9,114 in early Thursday trade, snapping a three-session winning streak and pulling back from an 11-week high as investors locked in profits. Sentiment deteriorated after U.S. equity futures slipped amid turbulence around Nvidia, where reports of a potential leadership shake-up involving CEO Jensen Huang unsettled the broader AI sector.

On the domestic front, soft Q3 lending data and consumer inflation expectations holding at a four-month high added further pressure. Still, the downside was limited by news that China’s trade surplus exceeded USD 1 trillion for the second straight year in the first ten months of 2026, underpinned by robust AI-related demand.

Sector-wise, technology, non-energy minerals, and consumer services led the declines, while logistics, financials, and healthcare helped cushion the fall. Aristocrat Leisure (-5.9%), Genesis Minerals (-4.5%), and PLS Group (-3.4%) were among the worst performers. BHP slipped 1.2% and Rio Tinto shed 1.4%. Among the major banks, ANZ fell 2.0%, while CBA and Westpac gained 1.6% and 1.3%, respectively.