Investor sentiment encountered headwinds from disappointing September industry activity data released in Australia. Firms cited constrained access to financing and persistent cost burdens, with renewed fuel-driven inflation intensifying anxieties surrounding the economic trajectory.

Financial equities faced continued headwinds, as three of the four principal Australian banks registered declines ranging from 0.8% to 1.3%. Conversely, the mining and materials sectors offered underlying resilience, evidenced by Evolution Mining’s 2.5% increase, Northern Star Resources’ gain of 1.9%, PLS Group’s advance of 1.8% and Lynas Rare Earths’ addition of 1.6%.