Australian Shares Diverge From Commodities as Miner Stocks Fall
The S&P/ASX 200 fell 0.7% for the week, led lower by BHP, Rio Tinto, and Fortescue as iron ore prices extended their losing streak. Banks and domestic sectors absorbed some losses, with healthcare and retail stocks gaining. Softer inflation and strong jobs data left traders divided on the Reserve Bank’s next move. Investors are watching China PMI and early earnings guidance.