The Australian stock market is trimming its early losses in mid-market trading on Tuesday, after a relatively flat close in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling well below the 8,700 level, with weakness in gold miners and financial stocks partially offset by gains in technology stocks.
The benchmark S&P/ASX 200 Index is losing 48.60 points or 0.56 percent to 8,680.80, after hitting a low of 8,625.80 earlier. The broader All Ordinaries Index is down 50.80 points or 0.57 percent to 8,919.00. Australian stocks closed relatively flat on Monday.
Among the major miners, Mineral Resources is losing more than 2 percent and Fortescue is down almost 1 percent, while BHP Group is gaining more than 1 percent and Rio Tinto is adding almost 1 percent.
Oil stocks are mixed. Beach energy is edging down 0.5 percent and Origin Energy is losing almost 1 percent, while Woodside Energy is adding more than 1 percent and Santos is gaining almost 1 percent.
Among tech stocks, Afterpay owner Block is edging down 0.3 percent, while Zip is edging up 0.2 percent, WiseTech Global is surging more than 5 percent, Xero is jumping almost 7 percent and Appen is advancing almost 3 percent.
Gold miners are mostly lower. Northern Star Resources is jumping almost 8 percent. Evolution Mining is losing almost 2 percent and Newmont is edging down 0.4 percent, while Resolute Mining and Genesis Minerals are declining almost 4 percent each.
Among the big four banks, Commonwealth Bank is losing almost 2 percent, ANZ Banking is declining almost 3 percent, National Australia Bank is down more than 1 percent and Westpac is slipping more than 2 percent.
In the currency market, the Aussie dollar is trading at $0.716 on Tuesday.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.