Sydney, June 11, 2026, 17:25 (AEST)
- The S&P/ASX 200 ended 20.10 points lower at 8,633.20, off 0.23%.
- The index edged lower as financials and technology names fell. Energy, consumer staples and health care stocks rose.
- Banks lost ground as Westpac, CBA, NAB and ANZ dropped on weaker sentiment, but BHP, CSL, Santos and Woodside kept the declines from getting worse.
ASX falls as tech slides, banks weak; S&P/ASX 200 down 0.23%
Australia’s share market pulled lower Thursday as tech stocks dropped sharply and bank shares sagged. Gains in energy, health care and defensive sectors didn’t offset the losses. The S&P/ASX 200 ended at 8,633.20, down 20.10 points or 0.23%, Google Finance data showed. The All Ordinaries also closed 0.23% lower at 8,836.70.
ASX 200 slipped after a choppy day. The index started at 8,653.30, dropped to 8,555.30 at its lowest, and climbed to 8,670.20, but closed down by the end of session at 4:55 p.m. Sydney time.
Energy led the way as oil stayed high on worries about the US-Iran standoff. Market Index said the ASX 200 energy sector gained 1.46%, Santos rose 2.0% and Woodside Energy added 1.5%. Reuters-added reports also pointed to energy stocks moving up with crude after the flare-up.
Banks weighed on the market. Financials lost 1.45%. Westpac slid 2.6%, Commonwealth Bank dropped 2.4%, ANZ fell 2.1% and National Australia Bank shed 1.8%, Market Index said. Reuters-linked coverage put the sector on its weakest day in two weeks, with CBA notching a fifth session lower.
Westpac shares got hit as the bank said mortgage applications dropped. Morningstar, citing AAP, noted Westpac told investors its investor home lending is down 20% since the federal budget, with total mortgages off by one tenth. Reuters-linked coverage reported mortgage applications slid 10%, with the stock losing 2.6%.
Tech stocks dragged the broader market. Market Index said the ASX 200 information technology sector dropped 2.24%, the biggest sector loss of the session, while the All Tech index shed 1.10%. Google Finance data showed the benchmark finished the day below its open, despite a brief rebound in the afternoon.
Defensive buying slowed the slide. Consumer staples finished up 1.29%, health care climbed 1.02% and consumer discretionary gained 0.86%. Coles rose 1.6%, Woolworths added 1.2%, and CSL jumped 4.2% to A$107.23. Market Index said health care extended its run to five days of gains. Morningstar said defensive sectors held up as investors turned more cautious.
Market Index had materials up 0.29%. Miners rose 0.4%, according to Reuters-linked coverage, snapping a four-session losing streak. Morningstar put BHP up 1.0% at A$60.80, but Fortescue dipped 0.3%. Mining shares were mixed but helped lift the market off the lows.
Vantage senior market analyst Hebe Chen told AAP “risk appetite is wavering but not collapsing,” with investors shifting into blue-chip and more solid names and away from weaker areas of the market. Chen also told Morningstar the general macro backdrop has made investors more defensive and selective. Morningstar
Lendlease rose after the group named Nick O’Neil as chief executive and managing director while keeping FY26 earnings-per-security guidance at 28–34 cents for its Investments, Development and Construction arm. Market Index said the stock jumped up to 6% during the morning and finished up 4.6% at A$2.74, ranking as a top ASX 300 gainer.
Southern Cross Media shares dropped over 6% after the company cut its earnings and revenue outlook for 2026 and set plans to lay off 250 to 300 workers by the end of June. The company blamed weak ad demand for the lower guidance. Reuters said the job cuts and guidance were announced together.
Rates and inflation are still front and center. The Reserve Bank of Australia’s cash rate target holds at 4.35% as of May 6, 2026, with the next RBA decision due at 2:30 p.m. Sydney time on June 16. Any policy move or change in outlook could hit banks, stocks tied to housing, and sectors sensitive to rates.
