Aussie Stocks at 3-Session Decline

The S&P/ASX 200 edged 0.1% lower to close at 8,948 on Wednesday, extending its three-session losing streak, led by declines in tech stocks.

A weak lead on Wall Street also dragged the index, as investors weighed the prolonged US government shutdown and renewed doubts over the durability of the AI-driven rally.

Domestically, latest housing data showed another monthly drop in building approvals, signaling ongoing weakness in the construction sector.

Tech shares led the losses, dropping 1.2% to a one-month low, led by Life360 Inc (-4.4%) and WiseTech Global (-0.4%), tracking their US peers lower.

Other notable decliners include Wesfarmers, the country's biggest non-food conglomerate, extending losses by 2.2% to its lowest since early September.

Financial conglomerate Macquarie Group also fell 0.6% after Britain’s regulator probed the planned sale of its helicopter leasing unit to Sumitomo Corp.

Meanwhile, mining giants Rio Tinto (0.9%) and Lynas Rare Earths (1.5%) capped losses.