The Aussie market ended its three-day rally with a broad-based decline of 0.75%, driven primarily by weakness in the mining sector amid ongoing concerns over tariffs on China. Despite record highs on the U.S. market, bolstered by Netflix's strong earnings and Trump's $500 billion AI infrastructure plan, the positivity failed to translate locally. On a brighter note, retail giant Myer gained 5.5% after shareholder approval of a merger with Premier Investments, meanwhile takeover target Insignia Financial saw its highest share price in three years amidst ongoing acquisition battles. Looking ahead, the market awaits updates from the U.S. on jobless claims, earnings reports, and upcoming interest rate decisions.

 

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