ASX Today Live News & Analysis

Australia's share market has sold off for a third-straight session, in which the only sure things were gold and investor uncertainty.

The benchmark S&P/ASX200 pared some of its early losses to finish 9.2 points lower on Wednesday, down 0.10 per cent, to 8,947.6.

The broader All Ordinaries faded 8.8 points, or 0.10 per cent, to 9,244.8.

"Markets had a good rally, putting in a good performance from the 25th of September, pushed above 9000 and now there's just a lot of uncertainty to push stocks higher," Pepperstone head of research Chris Weston told AAP.

"We're going to need to see the S&P500 and the Nasdaq rip through earnings to continue pushing higher - I think that's where we get the salvation."

Gold showed no signs of slowing down, as spot prices topped $US4,000 an ounce for the first time, trading as high as $US4,031 ($A6,144) just after the ASX close.

More than $US64 billion ($A97.5 billion) has flowed into gold exchange traded funds (ETFs) in 2025, including a record $US17.3 billion in September, World Gold Council data shows.

Most local sectors wound up in in the red, yet materials, health care and industrials bucked the trend to close in positive territory while financials traded about flat.

Surprisingly, most of the mining sector gains didn't come from gold producers, as Rio Tinto rallied for a second day after a mine extension announcement, while lithium plays, rare earths and mixed miners also caught a bid.

Liontown Resources was the top 200's fourth-best performer with a 5.7 per cent gain, but was pipped by James Hardie, Mesoblast and Droneshield.

James Hardie jumped almost 10 per cent after a positive surprise in its second quarter results, while Mesoblast (+9.4 per cent) beat revenue expectations for a key treatment and Droneshield (+7.8 per cent) announced an AI-driven improvement to its drone detection systems.

Energy stocks tracked 0.6 per cent lower as oil prices lingered just above recent lows.

Health care stocks ticked 0.6 per cent higher, as Mesoblast continued its rally and as Pro Medicus inked a five-year, $10 million deal with a German university hospital.

Consumer discretionary stocks continued to tumble, losing 1.5 per cent on Wednesday and shedding more than three per cent for the week.

The slump has followed a four-state public holiday on Monday and September's weak consumer confidence data published a day later.

IT stocks were also heavy, tracking with a down-tick in the Nasdaq overnight as it rolled off from breaking four intraday records in as many sessions.

New Zealand's central bank surprised most investors with a jumbo 50 basis point interest rate cut to help reinvigorate the economy, taking its official cash rate to 2.5 per cent and pushing the Australian dollar back above 114.30 NZ cents.

The Aussie is buying 65.65 US cents, down from 66.02 US cents on Tuesday at 5pm, as safe haven flows buoyed the greenback against major currencies.

ON THE ASX:

The S&P/ASX200 fell 9.2 points, or 0.1 per cent, to 8,947.6

The broader All Ordinaries lost 8.8 points, or 0.1 per cent, to 9,244.8

The NZX 50 added 37.19 points (0.27%) to 13,568.48 while the Nikkei dropped -215.89 points (-0.45%) at the time of writing, to be closed at 47,734.99

Companies Holding Annual General Meeting (ASX 300):

Redox Limited

Transurban Group

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

Vulcan Steel Limited