The S&P/ASX 200 index fell 0.5% to 8,991.30 on Thursday, snapping a three-session winning streak as selling pressure mounted in the mining sector.
Index-heavyweight miners led the decline, weighed down by softer commodity prices, particularly in copper.
The broad-based retreat marked a shift in sentiment after recent gains, with financials also contributing to the downward pressure.
The pullback in mining stocks reflects ongoing sensitivity to global commodity demand signals.
Copper prices, a key barometer for industrial activity, faced headwinds that translated directly into equity losses for Australia's resource giants.
The sector's underperformance overshadowed gains in other parts of the market, dragging the benchmark index lower.