10.09.202500:59:18UTC+00Australian Shares Little Changed

The ASX 200 saw little movement as it opened around 8,802 on Wednesday, taking a pause following two consecutive sessions of losses. Investors are currently evaluating the latest developments in global trade. President Donald Trump of the United States has called on the European Union to levy 100% tariffs on goods from China and India to heighten pressure on Russia. Washington has indicated a willingness to implement similar tariffs, suggesting the possibility of significant duties on imports from these nations. Meanwhile, the US Supreme Court has agreed to expedite a legal challenge against Trump's tariffs, with oral arguments scheduled for early November. Meanwhile, traders remain cautious as they anticipate key economic data from China, Australia's top trading partner, including the Consumer Price Index (CPI) and Producer Price Index (PPI) for August, which are expected later today amid ongoing deflation concerns. In corporate news, major banks showed resilience, rising by 1.3%, after market speculation suggested an 86% likelihood of a rate cut by the Reserve Bank of Australia (RBA) in November, although rates are expected to be maintained this month. In contrast, mining and gold equities declined, likely due to profit-taking activities.