09.09.202500:55:04UTC+00Australian Shares Extend Decline

The ASX 200 experienced a 0.5% decline to 8,802 on Tuesday, continuing its downward trend from the previous day as investors remained wary due to underwhelming economic indicators. The Westpac-Melbourne Institute Consumer Sentiment Index suffered a 3.1% decrease, settling at 95.4 in September, counteracting the 5.7% increase observed in August that had elevated the index to its highest point since early 2022. This recent data indicates a persistent consumer pessimism, overshadowing optimism and heightening fears regarding local demand. In housing developments, the seasonally adjusted total dwelling approvals in Australia fell by 8.2% month-over-month in July 2025, reaching 15,769 units, reversing the robust 12.2% increase seen in June. On a more positive note, approvals for private sector houses inched up by 1.1% to 9,288 units, after a previous 1.9% decline. Financials and materials sectors were among the primary contributors to the index's decline, with Westpac Banking Corporation slipping by 1.2%, and mining heavyweight Rio Tinto decreasing by 1%.