AU Evening Wrap: ASX Drops 0.9%; Miners Tumble

The $S&P/ASX 200(.XJO.AU)$ shed 63.1 points to 7277 on Monday as fresh concerns about the health of China's economy weighed on mining stocks.

Iron ore futures in Singapore were down 2.4 per cent to $US100.30 a tonne at the closing bell, dragging $BHP Group Ltd(BHP.AU)$ to a 2.1 per cent loss and $Rio Tinto Ltd(RIO.AU)$ to a 2.3 per cent decline.

$CAR Group Ltd(CAR.AU)$ jumped 7 per cent to $26.33 after its full-year earnings beat analyst expectations, while $JB Hi Fi Ltd(JBH.AU)$ added 2.8 per cent to $48.51 after its full-year revenue came in higher than some estimates.

$Beach Energy Ltd(BPT.AU)$ dropped 3.6 per cent to $1.61 after providing disappointing guidance for the 2024 financial year.

$Bank of Queensland Ltd(BOQ.AU)$ fell 1.2 per cent to $5.94 on news chief executive Patrick Allaway will continue in his role.