Aussie shares fall as trade worries weigh on | Australian Markets

Australian shares have began the month of June within the pink, after a resumption of hawkish US tariff speak despatched jitters by way of equities markets.

The S&P/ASX200 fell 26.4 factors, or 0.31 per cent, to eight,408.3 in Monday morning trade, as the broader All Ordinaries slipped 27.9 factors, or 0.31 per cent, to eight,633.1.

US President Donald Trump on Friday threatened to double tariffs on imported metal to 50 per cent, whereas accusing Beijing of violating an settlement to mutually roll back trade restrictions on essential minerals.

Trade worries helped ship a number of Asian indexes decrease, with Japan’s Nikkei down 1.4 per cent and Hong Kong’s Hang Seng index falling more than two per cent.

“Trade policy has returned as the primary driver for the markets, with US President Trump’s hot rhetoric regarding China and its adherence to previous trade agreements sparking a sell-off on Friday night,” Capital.com market analyst Kyle Rodda stated.

“Along with the typical trade policy uncertainty, there may be an element of market participants taking risk off the table before such a data heavy week.”

All however three of 11 native sectors had been trading decrease by lunchtime with utilities, vitality stocks and minerals main losses.

Financials had been additionally dragged, falling 0.3 per cent as ANZ, NAB and Westpac offered off more than 0.8 per cent every, whereas CBA was the best performer, eking a 0.1 per cent gain to $176.10 per share.

Macquarie Group was down 1.4 per cent to $211.26.

Large cap miners weighed closely, with Fortescue (down 2.4 per cent), Rio Tinto (down 2.3 per cent) and BHP (down 1.1 per cent) all sliding as iron ore costs slipped more than three per cent to $US96.15 a tonne since Friday as trade tensions escalated.

Goldminers had been combined, after futures whipsawed over the weekend to settle barely larger on Monday round $US3,325 ($A5,150) an ounce.

Energy stocks slipped 0.9 per cent as OPEC+ confirmed an oil provide hike of 411,000 barrels per day (bpd) in July.

Brent crude futures are trading at $US64.07 a barrel, up roughly 1.7 per cent since Friday afternoon as US Treasury Secretary Scott Bessent expressed confidence the US and China would “iron out” trade tensions quickly.

Soul Patts and Brickworks had been the top-200’s best performers after saying a $14 billion merger, their share costs rallying 11.6 per cent and 21.1 per cent respectively.

Mineral Resources was on the different finish of the desk, slipping more than 7.5 per cent to $20.52.

The Australian greenback has edged larger towards the buck, shopping for 64.60 US cents, up from 64.23 on Friday at 5pm.

The buck has been fading towards most main currencies since Friday, after a US trade court docket choice to dam Liberation Day tariffs was held back by a federal appeals court docket.