21.07.202600:47:05UTC+00Australia Shares Retreat to Near 2-Week Low

Australian equities fell 47 points, or 0.5%, to 8,744 in early Tuesday trade, extending losses for a fourth consecutive session and nearing a two-week low. The market mirrored weaker U.S. futures after Wall Street finished lower overnight, pressured by rising oil prices and higher Treasury yields. Geopolitical tensions further dampened risk appetite, as President Trump vowed Iran would “pay” for the deaths of three U.S. service members, and Yemen’s Houthi movement announced a maritime embargo on Saudi Arabia.

Domestically, investors remained cautious ahead of June labour market data and the release of July flash PMIs later this week. Most sectors retreated, with manufacturing, healthcare, logistics, and process industries leading the declines. The big four banks shed between 0.9% and 1.2%, while Pro Medicus (-3.6%), QBE (-2.1%), Brambles (-1.9%), and Lynas (-1.0%) also dragged on the index.

In contrast, a few names bucked the downtrend. Yancoal Australia climbed 3.9%, and South32 advanced 3.7%. Nextdc gained 2.6% after reporting an 11% increase in contracted utilisation over the final ten weeks of its fiscal year.