Australian shares fall as CSL hits seven-year low, gains in banks limit decline

Australian shares finished at their lowest in more than a week on Tuesday, as biotech giant CSL hit a near seven-year low after delaying the spin-off of its vaccine unit, although gains in the top four banks cushioned the benchmark’s decline.

The S&P/ASX 200 index ended 0.48% lower at 9,012.50 points.

Healthcare plunged 7.4%, its sharpest drop since August 19, as CSL slumped 15.9% following a guidance cut and delays to the US spinoff of its Seqirus vaccine division.

“Healthcare has been weighed down by profit-taking and the absence of fresh tailwinds, but with valuations now at relatively attractive levels and global tariff risks easing, we could see a recovery early into 2026,” said Anna Wu, cross asset investment specialist at VanEck Australia.

Gold stocks fell 4.6% after spot bullion dipped below $4,000 an ounce, as easing US-China trade tensions reduced demand for safe-haven assets. Evolution Mining and Northern Star Resources slipped 3.9% and 3.1%, respectively.

Broader mining sub-index fell 2.3% after three sessions of gains, as profit-booking prompted investors to move out of gold-related stocks.

“Gold was weaker on the back of US/China trade negotiations and profit taking after a stellar price run,” said Craig Sydney, senior investment adviser at Shaw and Partners.

Energy stocks dipped 1.7%, tracking softer oil prices, after six consecutive sessions of gains.

Woodside Energy and Santos fell 1.7% and 2.2%, respectively.

Technology stocks shed 3.2%, with WiseTech Global plunging as much as 17.5% to its lowest since April 7.

The company was one of the biggest losers on the benchmark.

Losses were partly offset by a 1.3% rise in financials, with National Australia Bank gaining 2.5% After the bell on Monday, Australia’s top central banker said that an increase of 0.9% or more in core inflation in the third quarter could lean heavily against a rate cut at the Reserve Bank of Australia’s next meeting.

New Zealand’s benchmark S&P/NZX 50 index edged marginally higher to close at 13,402.66 points.