India, May 18 -- The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.
The benchmark S&P/ASX 200 Index is losing 16.40 points or 0.20 percent to 8,327.30, after hitting a low of 8,301.60 earlier. The broader All Ordinaries Index is down 21.00 points or 0.25 percent to 8,558.90. Australian stocks closed notably higher on Friday.
Among the major miners, BHP Group is losing almost 2 percent, Fortescue Metals is slipping more than 2 p...