02.09.202500:52:02UTC+00Australian Shares on 3-Session Decline

The S&P/ASX 200 index declined by 0.3% to close at 8,899 on Tuesday, marking its third consecutive day of losses and reaching a two-week low. Market participants remained cautious as they awaited several key economic updates, such as the PMI data expected later today, GDP statistics, and a speech by RBA Governor Michele Bullock scheduled for tomorrow, which might provide new insights into the central bank's policy direction. Data released on Monday indicated that Australia’s Manufacturing PMI reached a three-year peak in August 2025, maintaining its position above the 50-mark expansion threshold for the eighth consecutive month. In the housing sector, there was a partial recovery in private house approvals, counterbalancing the previous month's decrease. However, this was outweighed by a significant drop in total dwelling approvals, which fell short of forecasts and reversed the robust growth seen in June. Among the notable decliners were Wesfarmers, Woolworths Group, Pro Medicus, and Goodman Group, with decreases of 2.6%, 2.6%, 1.5%, and 1.1% respectively.