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Australia’s ASX 200 finished nearly flat at 8,732 on Monday, paring back initial declines amid a boost from resilient U.S. stock futures. Market participants are also monitoring the upcoming Trump-Xi summit scheduled for September 24, where tariffs, minerals, and wider economic relationships are anticipated to be addressed.
Treasury Secretary Bessent characterized his weekend discussions with Chinese Vice Premier He Lifeng as “successful,” bolstering optimism regarding potential advancements in U.S.-China relations.
In Australia, investor sentiment exhibited restraint following Reserve Bank Governor Bullock's commentary highlighting persistent inflationary pressures, maintaining the potential for additional interest rate adjustments. Market attention is now directed toward the release of Australia’s September flash PMI and August employment figures.
Equities in the financials, utilities, and consumer non-durables sectors registered gains, whereas healthcare, non-energy minerals, and logistics shares faced selling pressure. Ramelius Resources increased by 6.2%, Paladin Energy advanced 3.4% and Viva Energy rose 1.9%. The major banks saw increases ranging from 0.4% to 0.9%.
Xero experienced a decline of 4.3%, Lynas Rare Earths decreased by 2.6%, and BHP Group retreated 0.4%.
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