Australian stocks fell 40 points, or 0.4%, to 9,040 on Tuesday morning, the first trading day of September, extending losses after Wall Street closed lower overnight. Rising oil prices and U.S.–Iran clashes pushed Treasury yields toward 4.7%, weighing on equities. Local caution also reflected expectations for sluggish Q2 GDP growth, with the data due Wednesday after the weakest pace in a year last quarter. July flash building permits, the Q2 current account and August commodity prices were scheduled for release, followed later by China’s private manufacturing PMI (survey of factory activity). Retail trade, commercial services and transport led declines, while energy minerals and consumer durables limited the drop. Three of the four big banks eased modestly; REA Group fell 4.4%, Westfarmers Ltd. dropped 3.2%, Woolworths declined 2.5% and Fortescue lost 2.2%. Woodside Energy rose 1.1% and Santos gained 1.5%.