Australian shares started the first trading session of 2026 on a weak note, weighed down by heavyweight mining and gold stocks as Northern Star Resources fell sharply after cutting its annual production forecast. The S&P/ASX 200 index fell 0.1% to 8,703.4 by 2346 GMT on Friday. It ended 2025 nearly 7% higher in its third straight annual gain. Northern Star Resources was the top laggard on the benchmark, dropping 8.2% in its biggest intraday drop since October 22 after the gold explorer downgraded its annual gold production forecast. Miners lost 0.3% despite a 0.1% rise in BHP and a 0.6% gain in Rio Tinto. Iron ore prices fell in the last trading session of 2025 due to softening steel demand, but notched gains for the year driven by strong demand in top consumer China. Gold-linked stocks slipped 1.9% on Friday and were on track for their worst week since the week ended November 21. Technology stocks slid 1%, tracking losses in their Wall Street peers on Wednesday as the tech-heavy Nasdaq ended lower. Accounting software maker Xero slipped 1.3%, while WiseTech Global and NEXTDC inched 0.4% and 0.5% down, respectively. Among individual stocks, Nickel Industries was the top gainer on the benchmark with a rise of 7.8%. The stock logged its biggest intraday jump in nearly three months after the company said South Korean special alloy supplier Sphere Corp would acquire 10% of the Excelsior Nickel Cobalt HPAL project in Indonesia, valuing the project at $2.4 billion. Meanwhile, New Zealand markets were closed for a public holiday. The country’s S&P/NZX 50 index rose 3.3% in 2025, logging its third straight annual gain.