AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
Gold miners fell sharply following geopolitical trade updates between the US and China
Critical minerals companies gave up recent gains amid rare earths export talks
Select energy and industrial stocks advanced despite broader market decline
The ASX 200 closed lower, dragged down by losses in gold and critical minerals sectors. The index finished the session. The decline followed renewed discussions between US President Donald Trump and China’s President Xi Jinping regarding tariffs and export controls on rare earths. Of the eleven sectors on the ASX, only two ended the day in the green.
Gold mining stocks decline
The gold mining sector faced heavy pressure. West African Resources (ASX:WAF) led the losses after updates related to government involvement in its Burkina Faso projects. Other major miners, including Regis Resources (ASX:RRL) and Genesis Minerals (ASX:GMD), also saw notable declines during the trading session.
Critical minerals sector under pressure
The segment covering lithium and rare earth elements also experienced a pullback. Discussions surrounding export restrictions on critical minerals between key global economies impacted sentiment. Pilbara Minerals (ASX:PLS), Liontown Resources (ASX:LTR), and Iluka Resources (ASX:ILU) all reversed strong performances seen earlier in the week.
Energy sector shows resilience
The energy sector was one of the few areas to post gains. Whitehaven Coal (ASX:WHC) emerged as a top performer, buoyed by expectations of improved operational efficiency across its Queensland sites by the end of the financial year. The coal producer’s continued focus on long-term cost management has helped support its share performance.
Airline and industrials move higher
Qantas Airways (ASX:QAN) recorded strong gains following an announcement from its competitor Virgin, which released IPO details and board changes. The development in the aviation sector supported momentum in airline-related shares.
In the industrials space, James Hardie Industries (ASX:JHX) advanced after announcing the pricing of a debt issuance related to a major acquisition. The move followed the company’s inclusion on a prominent watch list earlier in the week, drawing attention to its expansion into the outdoor living market.
Mixed performance among major miners and banks
Large-cap miners ended with mixed results. BHP Group (ASX:BHP) and Fortescue Metals Group (ASX:FMG) managed to close in positive territory, while Rio Tinto (ASX:RIO) posted a slight loss.
The banking sector saw subdued performance. Commonwealth Bank (ASX:CBA), Westpac Banking Corporation (ASX:WBC), and Australia and New Zealand Banking Group (ASX:ANZ) all registered mild declines. National Australia Bank (ASX:NAB), however, edged higher as financials showed varied momentum.
The ASX 200 movement today reflected the global sensitivity of resource-linked sectors, particularly in light of ongoing international trade discussions. Broader market activity remained cautious, with selective strength noted in coal, aviation, and building materials counters.
