FX.co ★ Australian Shares Subdued

Australian equities were little changed in Wednesday morning trade, consolidating recent gains and hovering near 9,133. Strength in utilities, industrial services, and consumer stocks was largely offset by weakness in miners, commercial services, and transport names.

Investors weighed fresh data showing that Q3 housing lending declined to a five-quarter low under the pressure of elevated interest rates. Business sentiment fell to a six-month low in October, while consumer confidence slid to its weakest level in four years in November.

On Wall Street, major indexes mostly finished lower overnight after stronger-than-expected U.S. inflation figures increased expectations of further Federal Reserve rate hikes.

Regionally, China’s trade surplus exceeded $1 trillion in the first 10 months of 2026, supported by robust high-tech exports driven by an AI infrastructure boom, which helped offset subdued domestic demand.

Among key movers, BHP Group slipped 0.3%, Rio Tinto declined 0.8%, Macquarie Group lost 1.5%, and Insurance Australia fell 0.8%. On the upside, Telix Pharmaceuticals gained 2.4%, Codan rose 2.2%, and PLS Group advanced 1.4%.