2026.04.1300:38:36UTC+00Stocks in Australia Extend Weakness to Begin the Week

Australian shares fell 54 points, or 0.6%, to 8,907 in early trade on Monday, extending losses into a second session amid a sharp pullback in U.S. stock futures. Sentiment weakened as Washington prepared to block Iranian port traffic after talks between the U.S. and Iran failed to yield an agreement to end the conflict in the Middle East. Investors also turned cautious ahead of March labor market data, following an unexpected rise in Australia’s unemployment rate in February to a three-month high. Attention this week is further directed toward China, Australia’s largest trading partner, which is set to release March trade and activity data as well as Q1 GDP figures. Market declines were broad-based, with nearly all sectors lower, led by consumer non-durables, commercial services, transport, and manufacturing. Notable underperformers included Evolution Mining (-3.9%), Northern Star (-3.2%), Qantas (-2.5%), and Technology One (-2.3%). In contrast, energy stocks outpaced the market, with Woodside Energy climbing 3.4% and Santos advancing 2.2%.