The S&P/ASX 200 fell 0.4% to below 9,035 in early Friday trading, retreating from the prior session’s record high, as losses in energy, tech shares, and miners offset gains in gold stocks. Energy stocks led the decline, slipping 1.6% and set for a third straight weekly loss amid uncertainty over global supply. Oil and gas firms Woodside and Santos fell 1.5% and 0.9%, respectively. The tech sector also lost ground, dropping 1.1% in line with Wall Street’s overnight drop as renewed concerns over US regional banks and trade tensions weighed on sentiment. Additionally, miners fell 0.3% on weaker iron ore, dragging BHP down 0.6% ahead of production updates. In contrast, gold miners outperformed, rising 2.5% to a record as stronger bullion prices lifted Northern Star by 3.5%. Among individual stocks, Iress surged 4.9% after drawing new takeover interest, while Lynas Rare Earths slid 5.1% amid profit-taking following this week’s rally driven by Australia’s critical minerals stockpile plan.
