FX.co ★ ASX 200 Ends Flat, Posts First Weekly Loss in 4 Weeks

The ASX 200 ended Friday’s session virtually unchanged at 8,795, reversing a modest loss from the previous day as investors digested flash PMI figures that signaled a further contraction in manufacturing and a sharper downturn in services in October.

Sentiment was also weighed by overseas leads, with U.S. stock futures retreating after the Nasdaq recorded its steepest one-day drop since June on Thursday, as high-profile earnings rekindled worries about the sustainability and scale of AI-related spending.

BHP Group slid 3.6% following a notable decline in copper output and heightened regulatory concerns surrounding trade agreements with China. Goodman Group also lost 3.6%, pressured by intensifying regulatory scrutiny and growing doubts about whether Australia’s power grid can support the rapid build-out of data center infrastructure.

Offsetting some of those losses, the four major banks advanced between 0.9% and 4.4%, supported by a defensive rotation out of materials and technology names and into financials.

On a weekly basis, the benchmark index edged down 0.1%, snapping a three-week winning streak, as markets grew more cautious over the prospect of a fifth interest rate increase this year after hawkish remarks from RBA Deputy Governor Hauser.