BHP, CSL rally lifts Australian shares off four-day slide

Australian equities rebounded on Tuesday, with the S&P/ASX 200 index rising 0.1% to 9,078.90 points, breaking a four-session losing streak. The benchmark had slipped 0.5% the previous day.

Mining heavyweight BHP led the advance, climbing as much as 4.2% after reporting annual profits that beat expectations and declaring its largest total dividend in four years. Rivals Rio Tinto and Fortescue also posted modest gains of 0.3% each.

The healthcare sector was the standout performer, surging 7.6% — its best day in over six years — driven by biotech major CSL. The flu vaccine maker jumped more than 18% in its strongest session since 2001 after forecasting robust growth for 2027, underpinned by its core plasma division.

Banking stocks, however, capped the index's gains, falling about 1.3% for a third straight session. The "Big Four" banks declined between 0.5% and 1.4%, with recent data showing double-digit drops in home-loan applications following tax changes announced in May. Commonwealth Bank and NAB each reported a 15% fall earlier this month.

Energy stocks edged up 0.6%, supported by rising oil prices amid global supply concerns. Woodside Energy and Santos each gained around 0.3%.

Investor sentiment remained cautious as progress on U.S.-Iran peace negotiations and the resumption of oil-tanker traffic through the Strait of Hormuz stalled. Across the Tasman, New Zealand's S&P/NZX 50 index inched up 0.1% to 13,739.83.