Australian shares declined on Monday as oil prices rose and the Strait of Hormuz remained closed.
The S&P/ASX 200 Index fell 1.45%, or 125.50 points, to close at 8,505.30.
Brent crude oil futures climbed to above $110 per barrel. The 30-year US Treasury yield rose to the highest point since 2023.
On the domestic front, the Reserve Bank of Australia said Project Acacia, a research project led by the RBA and the Digital Finance Cooperative Research Center (DFCRC), revealed considerable industry interest in tokenization and showed potential to materially improve the efficiency and functioning of Australia's wholesale asset markets.
In company news, Santos (ASX:STO) achieved first oil from the Pikka phase one development in Alaska. The phase one initiated production was part of the start-up and late-stage commissioning process, and it is expected to lead to an initial ramp-up to gross 20,000 barrels of oil per day over the next few weeks. Its shares rose 3% on market close.
Tuas (ASX:TUA) said the Infocomm Media Development Authority of Singapore paused the review of the proposed acquisition of Singaporean telecommunications firm M1 by its Simba Telecom subsidiary. Its shares closed down 63%.
Lastly, Brambles (ASX:BXB) lowered its forecast fiscal-year sales revenue growth to 2% to 3% from the previous 3% to 4% and underlying profit growth to 3% to 5% from 8% to 11%, reflecting about $60 million in earnings impact due to repair capacity constraints in parts of its US subcontracted service center network. Its shares fell 20% on market close.