19.08.202606:44:42UTC+00ASX Extends Slide to 2-Week Low

The ASX 200 fell 16 points, or 0.2%, to close at 9,054 on Wednesday, extending its losing streak to six sessions and hitting a two-week low. Risk sentiment stayed fragile as U.S. equity futures softened, pressured by higher oil prices, elevated Treasury yields, and a continued selloff in U.S. chip stocks.

On the domestic front, Australian wages grew 3.2% year-on-year in Q2, matching the previous quarter and marking the slowest pace in five quarters, while investors turned cautious ahead of July labor market data due Thursday. Adding to the cautious tone, RBA Deputy Governor Andrew Hauser signaled that cash rates may need to rise again if inflation risks persist, reiterating that price pressures remain “too high.”

Technology stocks led the declines, followed by consumer, logistics, and financial names. Whitehaven Coal dropped 2.4% after releasing weaker earnings, while Evolution Mining slipped 0.9% despite guiding for stronger FY26 profit. Three of the big four banks eased between 0.1% and 1.4%.

In contrast, Santos rose 2.5%, supported by firmer oil prices and an interim dividend in line with expectations, underpinned by positive first-half operating free cash flow.