Australia Shares Fall as Mining and Energy Stocks Drag

May 30 (Reuters) – Australian Shares Slipped on Friday, Dragged by Losses in Mining and Energy Stocks as Markets Digested The Reinstatement of Us President Donald TRUMP’S TARIFS, A Dey AFTER AFTER AFAREFS Blocked them.

The S & P/Asx 200 Index Fell 0.3% to 8,385, as of 0039 gmt. However, the benchmark is on track for a weekly gain of 0.3%, its third cultural week.

A Us Federal Appeals Court has temporary reinstated most of the tariffs introduced by trump in order to consider the government’s appearance.

Back in Sydney, Mining Stocks Fell for a Fourth Session in a Row, Down 0.1%, Despite a Rebound in Iron Ore Pries Before The Tariff Restoration Order.

Bhp was up 0.2%, while rio tinto and fortescue dropped 0.3%and 1.2%, respectively.

Energy stocks declined 1% as oil price slumped on reports that a Us court blocked president donald trump’s tarifs from from speaking effect.

Wooddeide and smaller rival santos fell 0.8% and 0.2%, respectively.

Financials declined 0.1%, with two of the country’s top banks Falling Around 0.1% Each.

Gold Stocks Rose 0.4% on Stronger Bullion Pries.

The Sub-Index is set for its fifth straight month of Wins, Rising 8.6% So far.

Northern Star Resources and Evolution Mining Climbed Around 0.2% Each.

Meanwhile, technology stocks snapped a five-day rally to shd 1.1%, with wisetech global and asx-listed shares of Xero Falling 1.7%and 0.4%, Respectly.

On the other hand, the tech sector is poised for its best monthly performance since February last year.

Next Week, The Australian Bureau of Statistics will release the country’s first-Quarter Gross Domestic Product Figures, Offering Further Clues on the Tentral Bank’s Next Move At Its July ATTS JUVE At It

Meanwhile, New Zealand’s Benchmark S & P/NZX 50 Index Was Trading 0.3% Higher at 12,320.16.

(Reporting by sneha kumar in Bengaluru; editing by rashmi aich)