26.06.202601:17:30UTC+00Australia Stocks Subdued, Set for Weekly Decline

Australian shares were little changed in early Friday trade, hovering near 8,750 after losses in the previous session. Strength in non-energy minerals, process industries, and energy minerals helped counter softness in healthcare, commercial services, and tech services.

Investors turned their attention to next week’s release of the Reserve Bank’s June meeting minutes, following the board’s decision to pause after three rate hikes earlier this year. Inflation remained in focus: headline CPI eased to 4.0% in May from 4.2% in April, but core inflation accelerated to 3.6%.

Among individual movers, Genesis Minerals gained 2.9%, while Ramelius Resources rose 2.3% and Bluescope Steel added 1.6%. On the downside, CSL Ltd. slipped 2.3%, and Aristocrat Leisure declined 1.9%. Three of the four major banks edged lower, losing between 0.2% and 0.5%.

For the week, the market is on track for its first decline in three weeks, down about 0.8%, as investors remain cautious that the central bank may maintain a hawkish stance after stronger-than-expected May employment data.