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S&P/ASX 200, XC0006013624

S&P/ ASX 200 falls 0.58% ahead of RBA decision

Published on 11/02/2026 at 19:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
The S&P/ASX 200 ended Monday at 8,856.5 points, down 0.58 percent. Weakness in mining and consumer stocks came ahead of the Reserve Bank of Australia's rate decision.

ASX 200 closes lower before RBA decision

  • The S&P/ASX 200 fell 0.58 percent to 8,856.5 points on November 2, 2026.
  • Eight of the 11 sectors declined, with consumer staples and mining shares among the main areas of weakness.
  • Investors looked ahead to the Reserve Bank of Australia's rate decision scheduled for Tuesday.
S&P/ASX 200, XC0006013624, Illustration mit AI erstellt.
S&P/ASX 200, XC0006013624, Illustration mit AI erstellt.

The S&P/ASX 200 ended Monday, November 2, 2026, at 8,856.5 points, down 51.6 points or 0.58 percent. The close followed a weaker session in Australian equities as investors assessed renewed pressure on technology shares globally and prepared for the Reserve Bank of Australia's policy announcement on Tuesday.

Mining and consumer stocks weigh

Eight of the 11 sectors finished lower, according to CommBank's report. Consumer staples fell 1.4 percent, with Coles down 1.8 percent and Woolworths 1.9 percent. Mining stocks also weakened: BHP lost 1.4 percent and Rio Tinto 1.2 percent. The broader All Ordinaries Index declined 0.53 percent to 8,977.2 points.

The session's defensive tone came as markets awaited the RBA's next interest-rate decision. CommBank reported that the domestic market was affected by the prospect of higher Australian interest rates, while the Australian dollar was quoted at 70.21 US cents, down from 70.33 US cents at the previous Friday's 5 p.m. reference point.

Global technology concerns remain

International market sentiment was also unsettled after the technology-heavy Nasdaq fell 2.9 percent in the previous US session. The Associated Press reported that concerns about the scale and profitability of artificial-intelligence spending continued to contribute to volatility in Asian technology stocks. Its intraday account placed the ASX 200 lower during the Australian session; the confirmed closing level was 8,856.5 points.

Selected stocks move against market

Not all large companies declined. Westpac rose 1.0 percent after reporting a full-year profit of 6.8 billion Australian dollars, while KMD Brands gained 10.4 percent after saying it had opened a data room for a potential buyer. ABC News' market wrap also highlighted gains in selected industrial and consumer-discretionary stocks, alongside losses among banks, miners and some healthcare shares.

The next major domestic market focus is the RBA decision scheduled for Tuesday, November 3. The contrast between isolated company gains and broad sector weakness leaves the index's near-term direction particularly sensitive to the central bank's communication and to further moves in global technology and commodity markets. Further coverage is available on the S&P/ASX 200 topic page.

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