Australia Stocks Opens Week on Softer Footing

Australian shares eased in early Monday trade, with the ASX 200 hovering near 8,797 after last week’s strength. Sentiment was dampened by weaker U.S. futures and renewed geopolitical tension, as reports of U.S.–Iran airstrikes and Tehran’s closure of the Strait of Hormuz weighed on risk appetite. Investors also turned cautious ahead of key economic data in top trading partner China later this week, including June trade balance, Q2 GDP, and June activity figures, notably industrial output and retail sales. Locally, July confidence surveys for households and businesses will also be released, along with inflation expectations. Sector moves were uneven: tech services, industrials, and healthcare slipped, with Northern Star (-2.5%), Coles (-2.0%), Evolution (-1.4%), and Origin (-2.7%) among notable laggards. Meanwhile, miners provided some support, with BHP up 0.5% and Rio Tinto adding 0.2%. Financials were modestly firmer, as three of the big four banks rose between 0.1% and 0.4%.

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