ASX Today Live News & Analysis

Australia's share market has ended the day lower after a mining sector lift could not counterbalance a tech sector dump and ongoing weakness in Commonwealth Bank shares.

The S&P/ASX200 fell 19.3 points on Wednesday, down 0.22 per cent, to 8,799.5, as the broader All Ordinaries lost 19 points, or 0.21 per cent, to 9,079.4.

"It's two straight days of losses now, but there were more winners than losers on the market, and we've still dropped back. It's largely due to some pretty significant declines from some of the banks, a few other stocks and tech did quite poorly," CommSec market analyst Steven Daghlian told AAP.

CBA shares are down more than nine per cent in two sessions after Tuesday's quarterly update, wiping more than $16 billion from its market value and sending its share price below $160 for the first time since April.

"It still has been the best of the banks, essentially for years, as far as share price performance goes and it does have the highest PE (price to earnings ratio) so it's under some pressure at the moment," Mr Daghlian said.

Australia's tech sector tumbled 3.3 per cent as family tracking app Life360 cratered more than 13 per cent on weaker than expected customer growth, while names like NextDC (-2.5 per cent), Xero (-2.2 per cent) and Technology One (-2.0 per cent) also sold off.

Pokie maker Aristocrat Leisure dragged on discretionary spending stocks, tumbling 7.5 per cent to $59.42 after its full-year result failed to impress.

Raw materials stocks pushed higher on the back of gold producer strength and a 2.3 per cent rally in Rio Tinto shares to $132.47 after it kicked off operations at its massive Simandou mine and infrastructure project in Guinea.

Iron ore futures also edged higher on hopes of potential stimulus measures in China, giving BHP and Fortescue a lift in the second half of the session.

Spot gold is trading hands just above $US4,106 ($A6,291) an ounce, slightly lower over the session but producers such as Northern Star, Evolution and Newmont all ended the session higher.

Rare earths and critical minerals plays were mixed, however Liontown (+6.1 per cent) and Mineral Resources (+9.2 per cent) rocketed higher in light of fresh deals.

Energy stocks gained one per cent as oil prices rose on the back of US sanctions on Russian oil producers, supporting Woodside (1.3 per cent) and Santos (+1.7 per cent), while natural gas futures jumped to eight-month highs.

The defensive consumer staples sector was Wednesday's best performer, up 1.1 per cent as Coles and Woolworths edged higher, while Endeavour has rallied more than five per cent in two sessions since snagging Supercheap Auto boss Benjamin Ward to head up Dan Murphy's.

Travel company Flight Centre jumped soared seven per cent higher in early trade on the back of a guidance uplift, but settled to a cruising altitude of around one per cent above break-even for the session.

ARN Media shares tumbled more than ten per cent after it projected a 25 per cent hit to annual earnings due to advertising market weakness and economic uncertainty.

The Australian dollar is buying 65.29 US cents, up from 65.18 US cents on Tuesday at 5pm.

All eyes will be on Thursday's Australian jobs data, despite little to no hope it will significantly move the dial on the Reserve Bank's next interest rate cut, which isn't expected until the second quarter 2026, if at all.

ON THE ASX:

The S&P/ASX200 lost 19.3 points, or 0.22 per cent, to 8,799.5

The broader All Ordinaries fell 19 points, or 0.21 per cent, to 9,079.4

The NZX 50 added 67.18 points (0.49%) to 13,671.73 while the Nikkei gained 220.38 points (0.43%) at the time of writing, to be closed at 51,063.31

Companies Holding Annual General Meeting (ASX 300):

Beach Energy Limited

Flight Centre Travel Group Limited

Humm Group Limited

Mount Gibson Iron Limited

Companies commencing Ex-Dividend Trading Today (ASX 300):

ResMed Inc.