Shares finished the week lower as a fall in the oil price and fresh AI doubts dented appetite for mining stocks.
The drop in oil undercut energy and commodity-linked sectors, removing a key tailwind for companies that benefit from higher commodity prices.
Scepticism about how much artificial intelligence will drive near-term demand for certain metals and materials contributed to selling in miners, as investors reassessed growth expectations that had supported the sector earlier in the year.
Traders reduced exposure to resource-heavy portfolios, prompting broad-based weakness across the mining complex. Profit-taking accelerated where rallies had been strongest in prior weeks.
Western Australian-listed miners were among those affected, reflecting the state’s heavy industry exposure to global commodity cycles and demand shifts.
Other parts of the market were more mixed, with some defensive and non-commodity sectors holding up better as investors rotated away from cyclicals.
Market participants will watch commodity-price moves and corporate updates closely next week for signs that confidence in resources can return, or whether volatility will persist.
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