Australian shares fell 84 points, or 0.9%, to 8,865 in Wednesday morning trade, extending a run of weak sessions and approaching a two-week low after Wall Street’s overnight slide following skepticism over U.S. President Trump’s announcement of an indefinite ceasefire extension with Iran. Comments from Fed nominee Kevin Warsh at his Senate confirmation hearing Tuesday were read as slightly hawkish, adding to market caution. Locally, April PMI data will be due Thursday. Meanwhile, Australia’s leading index stayed weak in March, weighed by higher rates and surging fuel costs tied to the Middle East conflict. Sector losses were led by healthcare, financials, and commercial services, though gains in consumer non-durables helped cap declines. Among notable laggards were Macquarie Group (-3.9%), Evolution Mining (-3.5%), and Ramsay Health Care (-1.8%). Cochlear Ltd. tumbled 37.2%, hitting a ten-year low after cutting its full-year earnings guidance, on weak demand and geopolitical risks.
