The S&P/ASX200 was down 14.9 points by midday on Wednesday, or 0.17 per cent, at 8,702.2. The broader All Ordinaries fell 14.2 points, or 0.16 per cent, to 9,008.2.
Weak Wall Street lead weighs on sentiment
The local market followed a softer lead from Wall Street overnight, as global markets move through a subdued final week of 2025.
“Major US indexes dipped into negative territory overnight, with thin volumes and year-end position-squaring keeping price action limited,” Moomoo dealing manager Jimmy Tran said.
“Both US and global equities remain on track to close the year with solid gains, despite considerable economic and political uncertainty.”
Australia lags offshore markets in 2025
Australian shares have underperformed major global markets this year, rising about 6.6 per cent so far.
That compares with gains of around 17 per cent for Wall Street’s S&P 500 and almost 30 per cent for Hong Kong’s Hang Seng index and Japan’s Nikkei index.