Australia Stock Market Today: Why the ASX 200 Slipped as Miners Sank and Banks Bounced
May 16, 2026, Sydney—03:07 AEST. Australian stocks slipped into the red by Friday’s close, erasing earlier gains as miners slumped. The S&P/ASX 200 finished down 9.9 points, or 0.1%, at 8,630.8. Banks and tech names managed to bounce, but it wasn’t enough—mining losses dominated, dragging the index to a 1.3% drop for the week.