Chinese electric car giant races ahead of Tesla in Australia
Yet-to-be-filed sales figures show Australians bought more than 8000 new BYD vehicles in June, a 350 per cent increase compared with the same time last year, eclipsing the company's previous monthly record of 4811 local sales in March.
The result widens BYD's lead over its biggest rival, Tesla, which on Wednesday reported the sales of 4589 vehicles in Australia for June, which is a drop of 2 per cent versus the same month last year, and a 39 per cent year-to-date decline.
So far this year, BYD has sold about 23,000 vehicles in Australia, while Tesla has sold 14,146.
BYD's blockbuster monthly result highlights the Shenzhen-based vehicle giant's rising popularity in Australia since launching two years ago. Aggressive pricing and an emphasis on design have fuelled BYD's ambitious plan to take on Tesla for the top spot on the Australian electric vehicle sales charts.
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While Tesla has been the best-selling electric car brand for years, its sales have been sliding globally as motorists embrace cheaper Chinese models. Meanwhile, the Tesla brand has suffered intense backlash because of chief executive Elon Musk's involvement with right-wing politics and Donald Trump's administration in the United States.
BYD's goal is to become one of Australia's top-five automotive brands as it expands its product range and aims to double its local dealership network in the coming year.
In January, it launched its first plug-in hybrid electric ute, the Shark 6, which retails for $57,900 before on-road costs and is aimed at snatching market share from Australia's top-selling utes, the Toyota Hilux and Ford Ranger.
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Perth Now
38 minutes ago
- Perth Now
Utes dominate vehicles sales and push BYD past Tesla
Dual-cab utes are driving Australia's automotive market, representing the top four best-selling vehicles in the nation and one in every four new models sold. But the popularity of one hybrid ute has also pushed low-emission vehicle brand BYD up the charts during June, helping it surpass long-time rival Tesla by a significant margin. The Federal Chamber of Automotive Industries revealed the trends in sales figures on Thursday, which showed motorists purchased more than 120,000 vehicles to recover from a sales slump earlier in 2025. Electric, hybrid and plug-in hybrid vehicles also continued to climb in popularity during the month, although sales of passenger cars, such as sedans and hatchbacks, fell again. While regularly ranking highly among Australia's bestsellers, utes claimed all four top places in June, with the Ford Ranger in pole position with more than 6200 sales. The Toyota HiLux, Isuzu D-Max and BYD Shark 6 utes filled the other top spots, which chamber chief executive Tony Weber said highlighted the enduring popularity of the workhorse vehicles. "In a market of more than 400 models, the top four utes made up 15.2 per cent of all sales during June," he said. "Australia remains one of the most open and competitive markets in the world, where consumers have a wide range of choice across all market segments." The figures also revealed a spike in popularity for BYD's Shark 6 plug-in hybrid electric ute, which was snapped up by almost 3000 motorists, representing more than double its sales in May. The boost lifted BYD to become Australia's fifth best-selling vehicle brand during June, surpassing long-time electric rival Tesla that ranked in tenth place. Electric vehicle sales also accelerated during June as motorists purchased more than 13,000 battery-powered cars, representing more than 10 per cent of all new vehicle sales. Figures from the Electric Vehicle Council showed sales of Tesla's Model Y improved compared to June 2024, although sales for the US car maker remained 38 per cent lower than last year. Hybrid vehicles continued their streak during June, with the number of plug-in hybrid electric car sales doubling during the month despite the removal of a fringe-benefits tax exemption in April. Hybrids also outsold electric cars during June, although the gap between the two vehicle types narrowed to a little over 3900 vehicles. Australians' appreciation for large vehicles also shone through in the chamber's figures, with SUV sales up by 9.4 per cent to represent 58 per cent of all sales, while light commercial vehicles such as utes made up 25 per cent. Passenger vehicles continued to fall in popularity with buyers, making up just over 15,000 sales or 12.3 per cent of all car sales.
The Advertiser
43 minutes ago
- The Advertiser
GWM sets new sales records in Australia
GWM continues to be one of Australia's fastest growing auto brands – and the nation's favourite Chinese brand – posting its best-ever monthly sales result in June and a new record for half-year sales today. The automaker was the country's seventh best selling brand last month, and now holds the same rank in the year-to-date sales standings – up from 10 in the first six months of 2024. So far this year GWM has sold 25,189 vehicles, placing it behind only Toyota (120,978), Mazda (48,942), Ford (47,300), Kia (40,750), Hyundai (38,948) and Mitsubishi (33,379). Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Behind it in the top 10 are BYD (23,355), Isuzu Ute (21,883) and MG (21,674), making GWM the best-selling Chinese brand in the first half of 2025. BYD placed fifth last month with a huge sales tally in June, but it remains behind GWM in eighth so far this year, while MG was outside the top 10 in 11 last month and now lies 10 year-to-date. GWM set its highest monthly sales figure since it entered the Australian market 16 years ago in 2009 with 5464 deliveries, accounting for a record 4.5 per cent share of all new-vehicle sales – up 1.0 per cent versus June 2024. Its June result was 30.9 per cent higher than the same month last year, and a 24.4 per cent increase on the brand's previous monthly record set in March 2025. GWM sales are now up 17 per cent year-to-date in an industry that has declined by 1.3 per cent in the first six months of 2025, and it says it's on target to deliver more than 50,000 vehicles this year. Based on 2024 figures, that would see GWM rival MG as Australia's seventh most popular auto brand, behind only Toyota, Ford, Mazda, Kia, Mitsubishi and Hyundai. Last year MG sold 50,592 vehicles (down from 58,346 in 2023), but so far this year its sales are down 11.9 per cent. Last month MG sales dropped by 7.8 per cent, placing it 12th with 3896 deliveries. Meantime, Chery placed 14th in June with 3024 deliveries – up a huge 180.3 per cent on June 2024, and helping to entrench China as Australia's second largest source of new vehicles ahead of Thailand and behind only Japan. GWM attributes its sales growth to a diverse model lineup, and strong sales of both traditional combustion-powered and both hybrid and plug-in hybrid (PHEV) vehicles. New model launches for GWM in the first half of 2025 included an upgraded Cannon ute with a new diesel engine and a 3500kg towing capacity, a new diesel variant of the Tank 300 off-road SUV, the Tank 500 Vanta flagship SUV, its first PHEV in the new Haval H6 GT mid-size SUV, and the Cannon Alpha PHEV dual-cab. GWM's answer to the BYD Shark 6 found 269 buyers in June – its first month on sale – accounting for 45 per cent of total Cannon Alpha ute sales. The Tank 300 and Tank 500 off-road SUVs combined for 783 sales in June. The former recorded its strongest month since October 2023 with 630 units sold – an 84.2 per cent increase over June 2024 – and the new diesel variant now accounts for 62 per cent of Tank 300 sales. The Haval Jolion small SUV attracted a record 2000 sales in June, securing second place in its segment with 12.6 per cent share, and marking an 18.3 record increase over its previous record set in December 2024 (1691 sales) and a 26.6 per cent increase year-to-date. The Haval H6 found 1278 new homes in June as the mid-size SUV entered run-out. It was up 4.2 per cent on June 2024 and 6.0 per cent year-to-date. The updated Cannon ute arrived in February and found 1074 new homes in June, before the release of additional variants including the Premium dual-cab, Lux dual-cab/chassis, Vanta, and XSR. However, Cannon 4×4 sales are down 53 per cent so far this year with 2028 sales to June. The Ora electric hatch was the only other dark spot for GWM in June, as it found just 60 buyers (down over 47 per cent on the same month last year), to notch up just 331 sales so far this year – down more than 44 per cent on 2024. "Delivering this level of growth in a competitive and constantly evolving market is a direct reflection of the dedication shown by our dealer network, partners, and of course our GWM staff," said GWM ANZ chief operating officer John Kett. "2025 was always set to be more competitive than 2024, with new brands entering and established players refusing to yield. GWM won't be dialling back in the second half – we're maintaining EOFY pricing to reinforce our commitment to being a price accessible brand. "From July 2025, we'll also accelerate the rollout of our next-generation technology, led by innovations in HEV, Hi4, and Hi4T PHEV systems across key models like the Cannon Alpha, Haval H6, and Tank 500," said Mr Kett. GWM also says it will expand its Australian dealer network from a current 115 retailers to about 125 by the end of 2025. MORE: Everything GWM Content originally sourced from: GWM continues to be one of Australia's fastest growing auto brands – and the nation's favourite Chinese brand – posting its best-ever monthly sales result in June and a new record for half-year sales today. The automaker was the country's seventh best selling brand last month, and now holds the same rank in the year-to-date sales standings – up from 10 in the first six months of 2024. So far this year GWM has sold 25,189 vehicles, placing it behind only Toyota (120,978), Mazda (48,942), Ford (47,300), Kia (40,750), Hyundai (38,948) and Mitsubishi (33,379). Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Behind it in the top 10 are BYD (23,355), Isuzu Ute (21,883) and MG (21,674), making GWM the best-selling Chinese brand in the first half of 2025. BYD placed fifth last month with a huge sales tally in June, but it remains behind GWM in eighth so far this year, while MG was outside the top 10 in 11 last month and now lies 10 year-to-date. GWM set its highest monthly sales figure since it entered the Australian market 16 years ago in 2009 with 5464 deliveries, accounting for a record 4.5 per cent share of all new-vehicle sales – up 1.0 per cent versus June 2024. Its June result was 30.9 per cent higher than the same month last year, and a 24.4 per cent increase on the brand's previous monthly record set in March 2025. GWM sales are now up 17 per cent year-to-date in an industry that has declined by 1.3 per cent in the first six months of 2025, and it says it's on target to deliver more than 50,000 vehicles this year. Based on 2024 figures, that would see GWM rival MG as Australia's seventh most popular auto brand, behind only Toyota, Ford, Mazda, Kia, Mitsubishi and Hyundai. Last year MG sold 50,592 vehicles (down from 58,346 in 2023), but so far this year its sales are down 11.9 per cent. Last month MG sales dropped by 7.8 per cent, placing it 12th with 3896 deliveries. Meantime, Chery placed 14th in June with 3024 deliveries – up a huge 180.3 per cent on June 2024, and helping to entrench China as Australia's second largest source of new vehicles ahead of Thailand and behind only Japan. GWM attributes its sales growth to a diverse model lineup, and strong sales of both traditional combustion-powered and both hybrid and plug-in hybrid (PHEV) vehicles. New model launches for GWM in the first half of 2025 included an upgraded Cannon ute with a new diesel engine and a 3500kg towing capacity, a new diesel variant of the Tank 300 off-road SUV, the Tank 500 Vanta flagship SUV, its first PHEV in the new Haval H6 GT mid-size SUV, and the Cannon Alpha PHEV dual-cab. GWM's answer to the BYD Shark 6 found 269 buyers in June – its first month on sale – accounting for 45 per cent of total Cannon Alpha ute sales. The Tank 300 and Tank 500 off-road SUVs combined for 783 sales in June. The former recorded its strongest month since October 2023 with 630 units sold – an 84.2 per cent increase over June 2024 – and the new diesel variant now accounts for 62 per cent of Tank 300 sales. The Haval Jolion small SUV attracted a record 2000 sales in June, securing second place in its segment with 12.6 per cent share, and marking an 18.3 record increase over its previous record set in December 2024 (1691 sales) and a 26.6 per cent increase year-to-date. The Haval H6 found 1278 new homes in June as the mid-size SUV entered run-out. It was up 4.2 per cent on June 2024 and 6.0 per cent year-to-date. The updated Cannon ute arrived in February and found 1074 new homes in June, before the release of additional variants including the Premium dual-cab, Lux dual-cab/chassis, Vanta, and XSR. However, Cannon 4×4 sales are down 53 per cent so far this year with 2028 sales to June. The Ora electric hatch was the only other dark spot for GWM in June, as it found just 60 buyers (down over 47 per cent on the same month last year), to notch up just 331 sales so far this year – down more than 44 per cent on 2024. "Delivering this level of growth in a competitive and constantly evolving market is a direct reflection of the dedication shown by our dealer network, partners, and of course our GWM staff," said GWM ANZ chief operating officer John Kett. "2025 was always set to be more competitive than 2024, with new brands entering and established players refusing to yield. GWM won't be dialling back in the second half – we're maintaining EOFY pricing to reinforce our commitment to being a price accessible brand. "From July 2025, we'll also accelerate the rollout of our next-generation technology, led by innovations in HEV, Hi4, and Hi4T PHEV systems across key models like the Cannon Alpha, Haval H6, and Tank 500," said Mr Kett. GWM also says it will expand its Australian dealer network from a current 115 retailers to about 125 by the end of 2025. MORE: Everything GWM Content originally sourced from: GWM continues to be one of Australia's fastest growing auto brands – and the nation's favourite Chinese brand – posting its best-ever monthly sales result in June and a new record for half-year sales today. The automaker was the country's seventh best selling brand last month, and now holds the same rank in the year-to-date sales standings – up from 10 in the first six months of 2024. So far this year GWM has sold 25,189 vehicles, placing it behind only Toyota (120,978), Mazda (48,942), Ford (47,300), Kia (40,750), Hyundai (38,948) and Mitsubishi (33,379). Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Behind it in the top 10 are BYD (23,355), Isuzu Ute (21,883) and MG (21,674), making GWM the best-selling Chinese brand in the first half of 2025. BYD placed fifth last month with a huge sales tally in June, but it remains behind GWM in eighth so far this year, while MG was outside the top 10 in 11 last month and now lies 10 year-to-date. GWM set its highest monthly sales figure since it entered the Australian market 16 years ago in 2009 with 5464 deliveries, accounting for a record 4.5 per cent share of all new-vehicle sales – up 1.0 per cent versus June 2024. Its June result was 30.9 per cent higher than the same month last year, and a 24.4 per cent increase on the brand's previous monthly record set in March 2025. GWM sales are now up 17 per cent year-to-date in an industry that has declined by 1.3 per cent in the first six months of 2025, and it says it's on target to deliver more than 50,000 vehicles this year. Based on 2024 figures, that would see GWM rival MG as Australia's seventh most popular auto brand, behind only Toyota, Ford, Mazda, Kia, Mitsubishi and Hyundai. Last year MG sold 50,592 vehicles (down from 58,346 in 2023), but so far this year its sales are down 11.9 per cent. Last month MG sales dropped by 7.8 per cent, placing it 12th with 3896 deliveries. Meantime, Chery placed 14th in June with 3024 deliveries – up a huge 180.3 per cent on June 2024, and helping to entrench China as Australia's second largest source of new vehicles ahead of Thailand and behind only Japan. GWM attributes its sales growth to a diverse model lineup, and strong sales of both traditional combustion-powered and both hybrid and plug-in hybrid (PHEV) vehicles. New model launches for GWM in the first half of 2025 included an upgraded Cannon ute with a new diesel engine and a 3500kg towing capacity, a new diesel variant of the Tank 300 off-road SUV, the Tank 500 Vanta flagship SUV, its first PHEV in the new Haval H6 GT mid-size SUV, and the Cannon Alpha PHEV dual-cab. GWM's answer to the BYD Shark 6 found 269 buyers in June – its first month on sale – accounting for 45 per cent of total Cannon Alpha ute sales. The Tank 300 and Tank 500 off-road SUVs combined for 783 sales in June. The former recorded its strongest month since October 2023 with 630 units sold – an 84.2 per cent increase over June 2024 – and the new diesel variant now accounts for 62 per cent of Tank 300 sales. The Haval Jolion small SUV attracted a record 2000 sales in June, securing second place in its segment with 12.6 per cent share, and marking an 18.3 record increase over its previous record set in December 2024 (1691 sales) and a 26.6 per cent increase year-to-date. The Haval H6 found 1278 new homes in June as the mid-size SUV entered run-out. It was up 4.2 per cent on June 2024 and 6.0 per cent year-to-date. The updated Cannon ute arrived in February and found 1074 new homes in June, before the release of additional variants including the Premium dual-cab, Lux dual-cab/chassis, Vanta, and XSR. However, Cannon 4×4 sales are down 53 per cent so far this year with 2028 sales to June. The Ora electric hatch was the only other dark spot for GWM in June, as it found just 60 buyers (down over 47 per cent on the same month last year), to notch up just 331 sales so far this year – down more than 44 per cent on 2024. "Delivering this level of growth in a competitive and constantly evolving market is a direct reflection of the dedication shown by our dealer network, partners, and of course our GWM staff," said GWM ANZ chief operating officer John Kett. "2025 was always set to be more competitive than 2024, with new brands entering and established players refusing to yield. GWM won't be dialling back in the second half – we're maintaining EOFY pricing to reinforce our commitment to being a price accessible brand. "From July 2025, we'll also accelerate the rollout of our next-generation technology, led by innovations in HEV, Hi4, and Hi4T PHEV systems across key models like the Cannon Alpha, Haval H6, and Tank 500," said Mr Kett. GWM also says it will expand its Australian dealer network from a current 115 retailers to about 125 by the end of 2025. MORE: Everything GWM Content originally sourced from: GWM continues to be one of Australia's fastest growing auto brands – and the nation's favourite Chinese brand – posting its best-ever monthly sales result in June and a new record for half-year sales today. The automaker was the country's seventh best selling brand last month, and now holds the same rank in the year-to-date sales standings – up from 10 in the first six months of 2024. So far this year GWM has sold 25,189 vehicles, placing it behind only Toyota (120,978), Mazda (48,942), Ford (47,300), Kia (40,750), Hyundai (38,948) and Mitsubishi (33,379). Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Behind it in the top 10 are BYD (23,355), Isuzu Ute (21,883) and MG (21,674), making GWM the best-selling Chinese brand in the first half of 2025. BYD placed fifth last month with a huge sales tally in June, but it remains behind GWM in eighth so far this year, while MG was outside the top 10 in 11 last month and now lies 10 year-to-date. GWM set its highest monthly sales figure since it entered the Australian market 16 years ago in 2009 with 5464 deliveries, accounting for a record 4.5 per cent share of all new-vehicle sales – up 1.0 per cent versus June 2024. Its June result was 30.9 per cent higher than the same month last year, and a 24.4 per cent increase on the brand's previous monthly record set in March 2025. GWM sales are now up 17 per cent year-to-date in an industry that has declined by 1.3 per cent in the first six months of 2025, and it says it's on target to deliver more than 50,000 vehicles this year. Based on 2024 figures, that would see GWM rival MG as Australia's seventh most popular auto brand, behind only Toyota, Ford, Mazda, Kia, Mitsubishi and Hyundai. Last year MG sold 50,592 vehicles (down from 58,346 in 2023), but so far this year its sales are down 11.9 per cent. Last month MG sales dropped by 7.8 per cent, placing it 12th with 3896 deliveries. Meantime, Chery placed 14th in June with 3024 deliveries – up a huge 180.3 per cent on June 2024, and helping to entrench China as Australia's second largest source of new vehicles ahead of Thailand and behind only Japan. GWM attributes its sales growth to a diverse model lineup, and strong sales of both traditional combustion-powered and both hybrid and plug-in hybrid (PHEV) vehicles. New model launches for GWM in the first half of 2025 included an upgraded Cannon ute with a new diesel engine and a 3500kg towing capacity, a new diesel variant of the Tank 300 off-road SUV, the Tank 500 Vanta flagship SUV, its first PHEV in the new Haval H6 GT mid-size SUV, and the Cannon Alpha PHEV dual-cab. GWM's answer to the BYD Shark 6 found 269 buyers in June – its first month on sale – accounting for 45 per cent of total Cannon Alpha ute sales. The Tank 300 and Tank 500 off-road SUVs combined for 783 sales in June. The former recorded its strongest month since October 2023 with 630 units sold – an 84.2 per cent increase over June 2024 – and the new diesel variant now accounts for 62 per cent of Tank 300 sales. The Haval Jolion small SUV attracted a record 2000 sales in June, securing second place in its segment with 12.6 per cent share, and marking an 18.3 record increase over its previous record set in December 2024 (1691 sales) and a 26.6 per cent increase year-to-date. The Haval H6 found 1278 new homes in June as the mid-size SUV entered run-out. It was up 4.2 per cent on June 2024 and 6.0 per cent year-to-date. The updated Cannon ute arrived in February and found 1074 new homes in June, before the release of additional variants including the Premium dual-cab, Lux dual-cab/chassis, Vanta, and XSR. However, Cannon 4×4 sales are down 53 per cent so far this year with 2028 sales to June. The Ora electric hatch was the only other dark spot for GWM in June, as it found just 60 buyers (down over 47 per cent on the same month last year), to notch up just 331 sales so far this year – down more than 44 per cent on 2024. "Delivering this level of growth in a competitive and constantly evolving market is a direct reflection of the dedication shown by our dealer network, partners, and of course our GWM staff," said GWM ANZ chief operating officer John Kett. "2025 was always set to be more competitive than 2024, with new brands entering and established players refusing to yield. GWM won't be dialling back in the second half – we're maintaining EOFY pricing to reinforce our commitment to being a price accessible brand. "From July 2025, we'll also accelerate the rollout of our next-generation technology, led by innovations in HEV, Hi4, and Hi4T PHEV systems across key models like the Cannon Alpha, Haval H6, and Tank 500," said Mr Kett. GWM also says it will expand its Australian dealer network from a current 115 retailers to about 125 by the end of 2025. MORE: Everything GWM Content originally sourced from:
The Advertiser
43 minutes ago
- The Advertiser
Australian shares dip as banks slip, while miners gain
The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday.
