Australia’s share market has closed lower after major mining companies BHP and Rio Tinto recorded significant losses.

The decline in mining stocks weighed heavily on the ASX, offsetting gains in several other sectors.

Analysts say weaker iron ore prices and concerns about demand from China contributed to the sell-off.

Mining companies play a major role in Australia’s economy, making their performance closely watched by investors.

Market experts say global economic uncertainty continues to influence confidence in resource stocks.

Investors are now looking ahead to upcoming economic data and company earnings for signs of market direction.

Despite today’s losses, analysts say the long-term outlook for Australia’s mining sector remains positive.