Miners, energy stocks drag Australian shares lower; RBA decision looms

Reuters
2025.11.04 00:08
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Australian shares declined 0.4% to 8,862.60 points, driven down by energy and mining stocks as investors awaited the Reserve Bank of Australia's policy decision on interest rates. Heavyweight mining stocks fell due to weak iron ore prices and concerns over China's steel production. Energy stocks also retreated after a recent surge. Financial stocks dropped 0.5%, with CBA falling 1%. Novonix shares plummeted 15% after Stellantis terminated an offtake agreement. Meanwhile, New Zealand's S&P/NZX 50 index rose 0.6%.