FX.co ★ Australian Shares Hold Decline on Trade Uncertainty

On Tuesday, the S&P/ASX 200 Index stabilized around 8,158, following a 1% decline the day before, as investors displayed caution due to persistent global trade uncertainties. The previous day, U.S. Treasury Secretary Scott Bessent mentioned that negotiations were progressing well, mirroring President Trump's optimism about potential agreements being finalized this week. Domestically, the political and economic landscape commanded attention after Prime Minister Anthony Albanese's re-election on Saturday. Albanese has committed to running a "disciplined, orderly" government, prioritizing relief from rising living costs and managing Australia's susceptibility to international trade volatility. In sectoral developments, gold stocks outperformed due to strengthened bullion prices, with Northern Star Resources and Evolution Mining achieving gains of 2.4% and 4.3%, respectively. Conversely, sectors such as iron ore mining, banking, and technology mostly experienced declines, which dampened overall market momentum.