Australia Stock Market Today: ASX 200 Ends Lower but Still Logs Best Week Since 2022
Australian shares finished in the red on Friday, but the benchmark still managed its best weekly showing since late 2022. A possible U.S.-Iran truce helped the week’s relief rally hold. The S&P/ASX 200 gave up 12.6 points, or 0.14%, to close at 8,960.6. BHP dropped 1.1%, Fortescue lost 1.3%, and Santos slipped 0.6%. Australia’s exposure to the six-week Middle East war has been pronounced, given the Strait of Hormuz—a tight Gulf corridor accounting for nearly a fifth of global oil trade—has kept both supply jitters and inflation risks front and center. The ASX 200 still managed to close the week higher by about 4.4%, despite Friday’s dip. With U.S.-Iran talks set for the weekend in Islamabad, the ceasefire remains far from secure.
