Australian shares fall as miners and 2 segment leaders tumble

A strong banking sector performance wasn't enough to rescue the ASX from a negative session.

By AAP & CBA Newsroom

28 October 2025

The Australian Stock Exchange ticker with a reflection of city pedestrians

Key points

ASX 200 ▼ 36 points, or 0.4%
All Ordinaries ▼ 49.1 points, or 0.53%

The local sharemarket has handed back most of the previous session's gains, after stock-specific shocks and mining sector selling weighed on sentiment.

The S&P/ASX200 fell 36 points, or 0.4 per cent, to 9,019.6 as the broader All Ordinaries lost 49.1 points, or 0.53 per cent, to 9,302.8.

A banking sector rally couldn't dig the market out of trouble, as health care and IT stocks were weighed down by segment giants CSL and WiseTech, which each sank more than 14 per cent.

The materials sector was also hammered as investors took profits on gold stocks and critical minerals miners, with an impending US-China trade deal weighing on safe-haven appetite and bringing a recent rare earths rally crashing to reality.

The Australian dollar is buying 65.64 US cents, up from 65.38 US cents on Monday at 5pm.

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