Australia Stock Market Today: ASX 200 Stalls Near 9,000 as NAB Slides, Oil Shock Keeps Traders on Edge. (Indo Premier)
Australian stocks eked out a gain on Monday, with the S&P/ASX 200 inching up just 6.4 points, or 0.1%, to 8,953.30. Gains among gold miners and consumer names were enough to counter losses in banks and energy shares. For nine sessions running now, the benchmark has barely budged, closing within 0.3% of this mark. “Investors were waiting for clearer signals,” said Hebe Chen at Vantage Markets. This is starting to show up in Australian markets and business sentiment, as the geopolitical shock spills over. Optimism for a rapid resolution in the Middle East faded after Iran walked away from a second round of talks and the U.S. seized an Iranian cargo ship, sending Brent crude up about 6%. Most Asian bourses posted gains, but Australia barely inched higher, traders eyeing whether ships keep moving through the Strait of Hormuz with Tuesday’s ceasefire deadline looming.