Evening Notes

Latest evening notes and downloadable PDFs.

09 Apr 2026

ASX Edges Higher as Fragile Ceasefire Tests Market Conviction

The Australian market edged higher on Thursday, with the ASX 200 closing up 0.24% at 8,973.2, though the tone was far more cautious than the previous day’s rally. Investors are now balancing optimism around a tentative Middle East ceasefire with growing doubts about its durability, particularly as reports of early violations emerge and the Strait of Hormuz remains disrupted. Energy stocks such as Woodside Energy (ASX:WDS) found support as oil prices rebounded towards US$98 a barrel, while financials, led by Bendigo and Adelaide Bank (ASX:BEN), helped anchor the index. Still, underlying breadth was weak, suggesting the recovery lacks full conviction. Elsewhere, technology and high-growth names came under pressure, with Wisetech Global (ASX:WTC) and Zip Co (ASX:ZIP) sharply lower as investors locked in gains from Wednesday’s surge. The Australian dollar held near US$0.703, while bond yields remained elevated around 4.9%, reflecting persistent inflation concerns. With markets pricing a 55% chance of a May rate hike, attention now turns to geopolitical developments and whether the recent rally can extend towards the 9,000 level.

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07 Apr 2026

Relief Rally Lifts ASX 200, with (ASX:BHP), (ASX:RIO) and (ASX:NXT) in Focus

ustralian equities staged a sharp rebound, with the ASX 200 up 1.74% to 8,728.8, driven largely by short covering after the holiday break. Strength was concentrated in technology and materials, with NextDC Ltd (ASX:NXT) jumping on a $1bn capital raising, while BHP Group Ltd (ASX:BHP) and Rio Tinto Ltd (ASX:RIO) tracked firmer commodities. Guzman Y Gomez Ltd (ASX:GYG) stood out, surging over 19% on strong expansion momentum. Still, the index remains about 5.4% below its February high, with resistance near 8,776. The broader backdrop remains uneasy. Oil above US$115, a soft Australian dollar near $0.690, and bond yields around 5% reinforce a higher for longer rate outlook. Domestic data is weakening, with PMI slipping into contraction and job ads declining. Markets now hinge on the Strait of Hormuz deadline, where a diplomatic breakthrough could lift sentiment, but escalation risks a swift reversal.

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01 Apr 2026

Relief Rally Ignites: Greatland, Zip and IperionX Surge in Broad Market Bounce

Australian equities opened the quarter with a sharp rebound, as ASX 200 rose 2.24% to around 8,671.8, recovering from March’s fall. The move was driven less by fundamentals than by a shift in expectations, after signals from Washington hinted at a possible de-escalation in Iran within weeks. That was enough to trigger broad short covering, with strength led by resources as BHP Group Ltd (ASX:BHP) and Rio Tinto Ltd (ASX:RIO) rallied, while higher-beta names such as Greatland Resources Ltd (ASX:GGP) and Zip Co Ltd (ASX:ZIP) surged. The tone, however, remains cautious beneath the surface. Oil is still elevated near US$103, the RBA is under pressure to tighten further, and bond yields, while easing, reflect rising growth concerns. In effect, markets are trading a geopolitical scenario rather than a confirmed outcome. This looks more like a tactical rebound than a durable trend, with positioning driving price action more than conviction.

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31 Mar 2026

Banks and Tech Steady the Market as BHP and RIO Provide Balance

Australian equities ended the quarter on a steadier note, with the ASX 200 rising 0.48% to 8,501.7 after recovering from an early dip. The tone felt more like quiet resilience than conviction. Technology and financials led the rebound, with Xero Ltd (ASX:XRO), Temple & Webster Group Ltd (ASX:TPW) and Generation Development Group Ltd (ASX:GDG) posting strong gains, while Westpac Banking Corp (ASX:WBC), ANZ Group (ASX:ANZ) and National Australia Bank (ASX:NAB) provided support despite looming regulatory changes. At the same time, easing oil prices helped calm rate concerns, even as consumer confidence hit fresh lows. Elsewhere, the rotation was clear. Energy names such as Woodside Energy Group Ltd (ASX:WDS) and Santos Ltd (ASX:STO) pulled back after a strong month, while BHP Group Ltd (ASX:BHP) and Rio Tinto Ltd (ASX:RIO) offered stability. The Australian dollar weakened and rate expectations remain finely balanced, with markets pricing a 60% chance of a May hike. For now, investors seem content to rotate rather than chase direction, as geopolitics and policy uncertainty continue to shape the outlook.

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30 Mar 2026

Markets Reprice Risk: Energy Names Like Woodside Outperform Banks

We are seeing markets reprice risk with notable speed as the escalation in the Iran conflict feeds directly into energy and inflation expectations. The S&P/ASX 200 is now down 8.4% for the month, while Brent has pushed toward US$116.75, lifting Australian 10-year yields back above 5% and reinforcing the prospect of rates staying higher for longer. This is weighing on rate-sensitive sectors, with banks such as ANZ (ASX:ANZ), Commonwealth Bank (ASX:CBA) and Westpac (ASX:WBC) under pressure, alongside technology names including Xero (ASX:XRO) and WiseTech (ASX:WTC). At the same time, we are seeing a clear rotation, with energy and materials offering relative support as Santos (ASX:STO), Woodside Energy (ASX:WDS) and Rio Tinto (ASX:RIO) benefit from tighter supply and firmer commodity prices. From our perspective, this looks less like a disorderly sell-off and more like a recalibration. Higher oil prices, a weaker Australian dollar around US$0.685 and rising funding costs are tightening financial conditions into a slowing growth backdrop. Leadership is shifting rather than disappearing, and that matters. In periods like this, discipline becomes central. Risk premia can compress quickly, but these environments often create selective opportunities as markets adjust to a more complex and inflation-sensitive regime.

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27 Mar 2026

Our Tactical Playbook: Cash Buffers and Energy Leverage

As we move through the final days of March, the geopolitical backdrop has become increasingly binary, and in our view, markets are under-pricing just how close we are to a meaningful inflection point. With the U.S.-Israeli air campaign, Operation Epic Fury, now into its second month, the trajectory of the conflict appears to be shifting. What began as a high-intensity aerial campaign is now approaching a potential transition toward ground engagement, and that shift carries very different implications for global assets. Against this backdrop, we are positioning portfolios with a clear objective in mind: capital preservation first, with selective exposure to areas that can benefit from volatility. This is why we have made the deliberate decision to increase both our cash allocation and our tactical exposure to energy. We do not see this as a defensive retreat, but rather as a disciplined repositioning ahead of what we consider a “hard deadline” for markets on April 6.

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26 Mar 2026

Energy and Defence Rally Amid Middle East Tensions: STO, KAR, WDS, DRO, EOS Lead the Charge

Australian shares pulled back slightly on Thursday, with the ASX 200 down 0.1% to 8,525.70, after Wednesday’s 1.9% rally. Investors remain caught between hope for a Middle East de-escalation and fresh geopolitical risks, with Iran rejecting a US peace proposal while proposing its own terms for control over the Strait of Hormuz. Energy stocks led the gains as a result—Santos (ASX: STO) +2.5%, Karoon Energy (ASX: KAR) +3.7%, Woodside Energy (ASX: WDS) +2.3%—while defence-linked companies such as DroneShield (ASX: DRO) +5.2% and Electro Optic Systems (ASX: EOS) +4.7% also benefited from conflict-driven themes. Gold and tech fell back, with Newmont (ASX: NEM) -2.9% and WiseTech Global (ASX: WTC) -3.2%, reflecting lingering investor caution. Domestically, NAB’s survey highlighted softer business confidence, while Infratil (ASX: IFT) +3.9% and Nufarm (ASX: NUF) +7.1% drew attention with upbeat guidance and strategic partnerships. The Australian dollar hovered near seven-week lows, 10-year yields approached 5%, and markets are pricing in a more aggressive RBA response if oil-driven inflation persists, keeping the backdrop cautious but selective opportunities alive.

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24 Mar 2026

Materials Rebound Lifts Market as BHP, RIO and GMD Drive Late Recovery

Australian equities edged higher, with the ASX 200 closing up 0.16%, though the session told a more nuanced story. Early gains of more than 1.6% faded as optimism around a pause in US Middle East action quickly unravelled. The rebound was led by materials, with BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) advancing as iron ore lifted, while Genesis Minerals Ltd (ASX:GMD) jumped 7.29% alongside strength in lithium names such as Pls Group Ltd (ASX:PLS) and Liontown Resources Ltd (ASX:LTR). The move reflected a sharp rotation back into oversold resource stocks. Elsewhere, caution lingered. Banks including National Australia Bank (ASX:NAB) and Commonwealth Bank (ASX:CBA) slipped on weak consumer sentiment, while Guzman Y Gomez Ltd (ASX:GYG) hit a record low. Softer PMI data, with the composite at 47.0, reinforced concerns about slowing demand even as cost pressures rise. With oil volatility and geopolitical risks still in focus, attention now turns to inflation data for clearer direction.

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23 Mar 2026

Oil Shock Ripples Through Markets as BHP and RIO Slide, WDS Stands Firm

It was a bruising start to the week for Australian equities, with the S&P/ASX 200 (ASX:XJO) closing down 0.74% at 8,365.9, after briefly sliding 1.7% intraday to a six-month low. The trigger is less about domestic weakness and more about geopolitics feeding directly into inflation: oil has surged to US$112, unsettling rate expectations and risk appetite. That pressure was most visible in materials, where BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) slipped, while gold names such as Newmont (ASX:NEM) sold off sharply as investors favoured the US dollar over bullion. There were few places to hide. Banks including Commonwealth Bank (ASX:CBA) weakened as markets brace for persistent inflation and possibly another rate hike, while breadth was decisively negative. The exception remains energy, with Woodside Energy (ASX:WDS) edging higher alongside crude. For now, the tone is cautious rather than capitulative, but with volatility rising and macro risks intensifying, markets are clearly repricing for a higher-for-longer world.

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18 Mar 2026

ASX gains ground as DRO surges and SGM leads recovery rally

Australian equities edged higher on Wednesday, with the S&P/ASX 200 (ASX:XJO) rising about 0.3% to around 8,645, extending a tentative recovery after last week’s volatility. Sentiment improved following the RBA’s narrow 5–4 decision to lift rates to 4.10%, which investors read as a sign the tightening cycle may be nearing its peak. That shift sparked a short-covering rally in growth and rate-sensitive sectors, with (ASX:DRO) jumping about 10% and gains across tech, A-REITs and utilities. Market breadth was solid, and volatility eased, suggesting confidence is stabilising. Resources provided steady support, with (ASX:SGM) up nearly 10% on earnings optimism and (ASX:NHC) gaining 5.85% amid ongoing energy security concerns, while (ASX:BHP) and (ASX:RIO) added modestly. Dividend flows also underpinned demand, with payouts from (ASX:REA), (ASX:CPU) and others. Still, the backdrop remains complex, with slowing domestic growth, a firm Australian dollar and persistent geopolitical risks keeping investors selective despite improving momentum.

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16 Mar 2026

Market Movers: AMP Climbs, Guzman y Gomez Gains as Regis Resources Drops

Australian equities closed lower on Monday, with the benchmark, ASX 200 slipping about 0.4% to around 8,578 points, its lowest level in roughly three months. Investors remained cautious ahead of Tuesday’s decision from the Reserve Bank of Australia, where markets expect a 25-basis point rate hike to 4.10% as surging oil prices revive inflation concerns. The weekend escalation in the Middle East pushed crude toward US$105 a barrel, lifting energy stocks such as Woodside Energy Group Ltd and Santos Ltd, while major miners including BHP Group Ltd, Rio Tinto Ltd and Fortescue Ltd fell as growth concerns weighed on materials. Stock moves were mixed across the index. Reliance Worldwide Corporation Ltd jumped nearly 7%, while AMP Ltd and Guzman y Gomez Ltd also gained. Losses were sharper for IperionX Ltd, Regis Resources Ltd and Stanmore Resources Ltd. Bond yields near 5% and expectations that rates could rise toward 4.6% this year kept investors defensive. Haven’t seen our new-look website yet? Visit Investor Pulse for everything wealth management and explore our new features, enhanced functionality, and exciting updates.

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13 Mar 2026

ASX 200 Ends Lower: NST Tumbles, MFG and DRO Offer Support

Australian shares edged lower on Friday, with the ASX 200 slipping 0.14% to 8,617.1 as investors closed out what has become the market’s worst week in nearly four years. Losses were concentrated in the resources sector, particularly gold miners, after Northern Star Resources (ASX:NST) plunged 18.6% to $21.80 following a second production downgrade this year. Broader materials stocks also struggled amid reports Chinese buyers were restricting some Australian iron ore, weighing on giants such as BHP (ASX:BHP) and Rio Tinto (ASX:RIO). Market breadth remained weak, with 708 stocks falling against 443 gainers. There were pockets of resilience. Financials and technology helped limit the decline, with Magellan Financial Group (ASX:MFG) rising 3.5% while defence technology firm DroneShield (ASX:DRO) jumped 5.4%. Infrastructure group Dalrymple Bay Infrastructure (ASX:DBI) led the index with a 6.9% gain. Investors remain cautious as oil prices surge amid Middle East tensions and markets increasingly expect the Reserve Bank of Australia to lift interest rates by 25 basis points next week.

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27 Feb 2026

A Record Close Caps a Resilient February as the S&P/ASX 200 Extends Its Eight-Month Advance

Australian equities closed the week on a firm footing, with the S&P/ASX 200 up 0.25% and striking another record high, capping its eighth straight month of gains. We have seen clear rotation beneath the surface. Block Inc (ASX: XYZ) soared 28.28%, while Iluka Resources Ltd (ASX: ILU) and Lynas Rare Earths Ltd (ASX: LYC) each rose more than 9%. By contrast, Coles Group Ltd (ASX: COL) fell 6.67% despite lifting interim profit 16.5% to $699m and declaring a 32-cent fully franked dividend. At the top of the market-cap table, BHP Group (ASX: BHP) has edged back ahead of Commonwealth Bank (ASX: CBA), $292bn to $290bn, reflecting renewed appetite for materials. Credit growth slowed to 0.5% in January, according to the Reserve Bank of Australia, yet annual growth remains a firm 7.7%. With the Australian dollar near $0.711 and markets pricing an 80% chance of a May rate rise, resilience remains the defining theme.

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25 Feb 2026

ASX 200 surges to record as inflation surprise sharpens rate outlook

Australian shares closed at a fresh peak on Wednesday, with the S&P/ASX 200 up 1.17% as technology, consumer staples and miners led a broad advance. Gainers comfortably outpaced losers and volatility eased, with the S&P/ASX 200 VIX down 5.48% to 11.69. Standouts included ARB (ASX: ARB), DroneShield (ASX: DRO) and Woolworths (ASX: WOW), the latter hitting a 52-week high, while Domino’s (ASX: DMP) and Viva Energy (ASX: VEA) lagged. The upbeat tone came despite inflation holding at 3.8% in January, above forecasts, with trimmed mean CPI at 3.4%. Electricity costs jumped 32.2%, keeping price pressures broad. Construction slipped 0.1% in Q4, dragged by engineering work. Markets now price a strong chance of a May rate rise, pushing the Australian dollar to $0.70-and-10-year yields towards 4.73%, even as Wall Street and Chinese equities extended gains.

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24 Feb 2026

ASX Edges Lower While VEA Jumps 10% on Earnings Beat

Australian shares drifted lower on Tuesday, with the S&P/ASX 200 slipping 0.04% as weakness in IT, consumer discretionary and A-REITs offset strength in resources and energy. Decliners outnumbered advancers by 678 to 484, though volatility eased, with the S&P/ASX 200 VIX down 2.33% to 12.36. Lithium names led gains, including Liontown Resources Ltd and Pls Group Ltd, while ARB Corporation Ltd slumped to five-year lows and Megaport Ltd hit a 52-week trough. Earnings drove the tone. Woodside Energy edged up after record output and reaffirmed dividends despite a 24% drop in statutory profit, reinforcing the market’s focus on cash returns. Viva Energy Group jumped 10% on an earnings beat, while Transurban Group paid its interim dividend. Offshore, firmer Chinese equities and steady US futures offered support, even as investors weighed tariff risks and sticky inflation at home.

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23 Feb 2026

Tariff jitters weigh on ASX 200; South32 (ASX:S32) resilient, Megaport (ASX:MP1) sinks

Australian shares stepped back on Monday, with the S&P/ASX 200 down 0.61% to around 9,036, as investors trimmed risk after last week’s near record levels. Technology, healthcare and A-REITs led the decline, while materials offered partial support. Reece (ASX:REH) jumped 12.98% to 15.75, Guzman Y Gomez (ASX:GYG) gained 9.13% to 19.13 and Ramelius Resources (ASX:RMS) rose 8.87% to 4.91. At the other end, Megaport (ASX:MP1) slumped 17.31% to a 52 week low of 7.98, with Perenti (ASX:PRN) and Austal (ASX:ASB) also sharply lower. Decliners outpaced advancers 672 to 540, while the ASX 200 VIX rose 7.08% to 12.67. Global trade tensions added to the caution after President Donald Trump flagged tariffs rising to 15%. The Australian dollar firmed to about $0.709, bond yields eased to 4.72%, and markets now see a 76% chance of an RBA hike by May.

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20 Feb 2026

ASX Edges Lower as Growth Cools and Volatility Ticks Up

Australian shares drifted lower on Friday, with the S&P/ASX 200 slipping 0.05% as losses in technology and consumer names outweighed pockets of strength. Telix Pharmaceuticals Ltd (ASX:TLX) jumped 14.46%, while QBE Insurance Group Ltd (ASX:QBE) and Austal Ltd (ASX:ASB) also posted solid gains. By contrast, Guzman Y Gomez Ltd (ASX:GYG) sank 13.11% to a record low, with Megaport Ltd (ASX:MP1) and Liontown Resources Ltd (ASX:LTR) under pressure. The S&P/ASX 200 VIX rose 1.51% to 11.82, hinting at slightly firmer nerves. Economic data offered little comfort. S&P Global flash PMIs eased in February, with the composite at 52.0, still expanding but cooling. Input costs accelerated, complicating the outlook for the Reserve Bank of Australia, as markets price a 76% chance of a rate rise by May.

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19 Feb 2026

ASX Defies Rate Pressure as Energy and Telecoms Power Rally

Australian equities closed firmly higher, with the ASX 200 rising 0.88% and touching a record intraday 9,107 points, as investors looked past rate fears and focused on earnings strength. Employment rose by 17,800 in January to a record 14.70m, while unemployment held at 4.1%, reinforcing expectations of a possible May hike from the Reserve Bank of Australia. Bond yields climbed to 4.77% and the Australian dollar strengthened to US$0.706, yet equity sentiment remained constructive. Results drove the action. Telstra Group Ltd (ASX:TLS) gained nearly 4% after lifting profit 9.4% to $1.12bn and raising its dividend, while Rio Tinto (ASX:RIO) maintained a $4.02 payout despite lower earnings. Energy stocks tracked oil above US$65 a barrel, though sharp declines in Zip Co Ltd (ASX:ZIP) reminded investors that reporting season remains unforgiving.

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17 Feb 2026

ASX 200 Climbs 0.24% as BHP Ignites Rally and Tech Continues to Lag

ASX 200 Climbs 0.24% as BHP Ignites Rally and Tech Continues to Lag Australian equities closed modestly higher, with the S&P/ASX 200 up 0.24%, as strength in resources offset ongoing weakness in technology. The tone was set by BHP Group (ASX:BHP), which surged as much as 8% to a record $54.20 after posting a 28% rise in half-year profit to US$5.64bn and lifting its interim dividend by 46% to 73 US cents. Copper drove more than half of earnings, underscoring how investors are rewarding scale and cash flow. Standouts included Pro Medicus (ASX:PME), JB Hi-Fi (ASX:JBH) and A2 Milk (ASX:A2M), while Reliance Worldwide (ASX:RWC) hit a 52-week low. Elsewhere, the tech sub-index (ASX:XIJ) fell about 0.7% and is down 43% over six months, reflecting rotation away from high-multiple growth. RBA minutes struck a hawkish tone, projecting inflation above target through 2026, while 10-year yields dipped below 4.70% and the A$ hovered near $0.70.

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16 Feb 2026

ASX edges higher as retail strength offsets earnings disappointments

Australian shares edged higher on Monday, with the S&P/ASX 200 closing up 0.24% at 8,939, as strength in IT and consumer discretionary offset weakness in select defensives and miners. Standout moves came from Austal Ltd (ASX:ASB), up 20.74% to 5.88, and WiseTech Global Ltd (ASX:WTC), which gained 12.76% to 48.06. Retailer JB Hi-Fi Ltd (ASX:JBH) added 5.45% after lifting profit 7% to A$305.8m and raising its interim dividend 23.5% to 210 cents, offering reassurance that parts of the consumer economy remain resilient. Not all sectors shared the optimism. Treasury Wine Estates Ltd (ASX:TWE) fell 4.39% after a roughly 40% slide in underlying EBITS and no interim dividend, while Fortescue Metals Group Ltd (ASX:FMG) lost 4.15%. The S&P/ASX 200 VIX eased 4.77% to 12.95, suggesting calmer nerves as investors await fresh data and central bank guidance.

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13 Feb 2026

Aussie stocks lower at close of trade; S&P/ASX 200 down 1.39%

Australia stocks ended Friday on a sour note, with the S&P/ASX 200 (ASX:XJO) falling 1.39% to 8,919.7, a sharp reversal after flirting with record highs a day earlier. Selling was broad, with decliners swamping advancers 955 to 253, and volatility jumping as the S&P/ASX 200 VIX rose 15.43% to 13.59. Technology and healthcare bore the brunt. WiseTech Global Ltd (ASX:WTC) slumped nearly 15% to a three-and-a-half-year low, while Cochlear Ltd (ASX:COH) dropped 18.74% to three-year lows. Banks also eased, with Commonwealth Bank of Australia (ASX:CBA), National Australia Bank Ltd (ASX:NAB), Westpac Banking Corp (ASX:WBC) and ANZ Group Holdings Ltd (ASX:ANZ) giving back recent gains. There were pockets of resilience. AMP Ltd (ASX:AMP) jumped 8.98%, while Origin Energy Ltd (ASX:ORG) and AGL Energy Ltd (ASX:AGL) advanced as investors rotated into steadier cash flow stories. With reporting season under way, the market’s focus has shifted firmly to earnings quality and dividend durability rather than momentum alone.

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12 Feb 2026

Australia Stocks Higher at Close of Trade; S&P/ASX 200 Up 0.32% as Banks Power to Fresh Highs

Australian shares edged higher on Thursday, with the S&P/ASX 200 (ASX:XJO) up 0.32% and briefly within 10 points of its 9,115 record before settling near 9,037. The charge was led by a banking boom. ANZ (ASX:ANZ) surged 8.33% to 40.30 after a 17% lift in quarterly cash profit to 1.94bn and a cost to income ratio below 50%, dragging NAB (ASX:NAB), Westpac (ASX:WBC) and CBA (ASX:CBA) to fresh highs. South32 (ASX:S32) rose over 5% on a 29% profit jump and a 3.9 US cent dividend, while Northern Star (ASX:NST) gained more than 2% as gold profits climbed 49%. The mood was less forgiving elsewhere. Temple & Webster (ASX:TPW) sank 32.63% to a 52 week low, Pro Medicus (ASX:PME) fell 23.88%, and WiseTech (ASX:WTC) dropped 7%. With inflation expectations at 5%, the RBA cash rate at 3.85% and the 10 year yield near 4.80%, investors are favouring banks and dividends over high growth names.

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10 Feb 2026

Aussie stocks finish flat as sector rotation masks rising caution ahead of key earnings

Australian equities finished flat on Tuesday, a quiet headline outcome that concealed plenty of movement beneath the surface. The S&P/ASX 200 went nowhere as gains in technology, uranium and gold were offset by weakness in banks and insurers ahead of a packed earnings schedule. DroneShield (ASX:DRO) jumped 7.30% and Zip Co (ASX:ZIP) rose 6.48% as investors tentatively stepped back into beaten-down growth stocks, while uranium names such as Boss Energy (ASX:BOE) rallied on upgraded long-term supply assumptions. Financials told a different story, with insurers sliding sharply and the majors easing as positioning was trimmed ahead of Commonwealth Bank’s result. Volatility ticked higher, with the ASX 200 VIX up 1.38% to 12.39. Away from equities, the mood was cautious. Consumer sentiment fell 2.6% to a ten-month low, the Australian dollar slipped back towards US$0.70 and housing data disappointed. Business confidence, however, edged higher, reinforcing the sense of an economy slowing unevenly rather than stalling outright. With CBA, CSL (ASX:CSL) and AGL (ASX:AGL) reporting next, the flat close felt less like indecision and more like investors holding their breath.

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06 Feb 2026

Friday Flush Hits ASX as Tech Rout Deepens and Volatility Spikes

Australian shares closed sharply lower on Friday, with the S&P/ASX 200 sliding 2.03% to a four-week low near 8,702, as a global technology sell-off and softer commodity prices triggered broad based selling. Every sector finished in the red, with IT, A-REITs and Gold leading the declines, while market breadth was decisively negative as falling stocks overwhelmed advancers. Volatility jumped, with the ASX 200 VIX rising more than 21% to a one month high, underscoring how quickly risk appetite faded following the Reserve Bank’s recent rate hike and a renewed bout of global market anxiety. Losses were heaviest across technology and resources, where WiseTech, Xero and TechnologyOne fell sharply, and miners such as BHP and Rio Tinto tracked weaker iron ore and copper prices. Gold stocks also slid as bullion stayed under pressure. A few names resisted the sell-off, with Brambles and ResMed ending higher, but overall, the session felt like a classic Friday flush, erasing recent gains and leaving investors cautious heading into the new week.

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05 Feb 2026

Materials retreat and global tech jitters end a two-day rally as investors reassess growth, rates and geopolitics

Australian shares slipped on Thursday, with the S&P/ASX 200 closing down 0.43% as a sell-off in materials and energy erased the market’s brief winning streak. We saw sentiment cool sharply after weaker guidance from global chipmaker AMD rattled confidence in AI-led growth, dragging uranium names such as Paladin Energy (ASX:PDN) and weighing on copper and gold miners. Gold’s pullback towards US$4,789 an ounce added pressure, while Woodside Energy (ASX:WDS) and Santos (ASX:STO) fell as renewed US-Iran talks knocked the geopolitical premium out of oil. That said, the session was not without pockets of resilience. Treasury Wine Estates (ASX:TWE), Premier Investments (ASX:PMV) and Netwealth (ASX:NWL) stood out on the upside, while healthcare names like CSL (ASX:CSL) and ResMed (ASX:RMD) attracted defensive flows. With volatility ticking higher and investors still digesting the RBA’s hawkish shift, the market looks more like it is searching for a floor than heading into a deeper slide.

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04 Feb 2026

Materials drive a decisive rebound as the market absorbs the RBA’s hawkish turn

Australian shares found their footing on Wednesday, with the S&P/ASX 200 rising 0.80% to 8,927.8 as investors largely looked through the RBA’s rate hike to 3.85% and leaned back into resources. The tone improved steadily through the session, led by a powerful rebound in miners and gold stocks as commodity prices recovered. The mining sector jumped 3.7%, with BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) up more than 4%, while South32 (ASX:S32) hit three-year highs. Gold names such as Northern Star (ASX:NST) and Evolution Mining (ASX:EVN) also rallied as gold climbed back above US$5,000 an ounce. Volatility eased, with the ASX 200 VIX down to 11.42. By contrast, technology remained under heavy pressure. Xero (ASX:XRO), Technology One (ASX:TNE) and WiseTech Global (ASX:WTC) all sold off sharply, reflecting the global rotation out of high-multiple software stocks. Banks recovered from early weakness to finish about 1% higher, as investors focused on improving margins in a higher-rate environment. The Australian dollar firmed near $0.703, reinforcing the sense that, for now, growth and commodities are back in favour.

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03 Feb 2026

Australia equities absorb rate shock and rally as banks and miners steady the tape

Australian shares ended Tuesday on a steadier footing, with the S&P/ASX 200 up 0.89% despite the Reserve Bank of Australia delivering its first rate hike in more than two years. Investors appeared relieved that the policy uncertainty had passed, choosing instead to focus on sector fundamentals. Banks led the rebound, with Commonwealth Bank (ASX:CBA) rising 1.6% and its major peers all gaining more than 1%, helped by expectations of stronger margins. Miners also recovered as gold rebounded sharply, lifting names such as Newmont (ASX:NEM), while market volatility eased, with the ASX 200 VIX down nearly 8%. Energy was the clear laggard as oil prices slid on easing geopolitical tensions, weighing on Woodside (ASX:WDS) and Santos (ASX:STO). Still, broader sentiment held up, supported by gains across Asia and Wall Street, a firmer Australian dollar near $0.70 and evidence that investors remain confident the economy can absorb higher rates without derailing growth.

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02 Feb 2026

Australia stocks lower at close of trade; S&P/ASX 200 down 1.02%

Australian shares started the week on the back foot, with the S&P/ASX 200 closing down 1.02% near 8,776 as a sharp sell-off in materials set the tone. A violent crash in gold and silver prices ripped through local miners, dragging the Materials index down about 3% and pushing stocks such as Newmont (ASX:NEM) and Emerald Resources (ASX:EMR) sharply lower. Market breadth was weak, volatility picked up, and Graincorp (ASX:GNC) sank to a three-year low. A brief rotation into banks offered little shelter, with Commonwealth Bank (ASX:CBA) ending only modestly higher after early strength. The mood remains cautious ahead of Tuesday’s RBA decision, with markets pricing a 75% chance of a rate hike as bond yields hover near multi-year highs. Softer January inflation was offset by a rebound in job ads, keeping policy uncertainty high. Globally, weaker Chinese equities, falling oil prices and a firmer US dollar added to the pressure, reinforcing a risk-off start to Australia’s reporting season.

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30 Jan 2026

ASX slips on mining sell-off as January rally holds

Australian shares ended Friday on the back foot, with the S&P/ASX 200 down 0.65%, as a sharp sell-off in gold and mining stocks outweighed pockets of strength elsewhere. The mood turned defensive late in the session, with decliners comfortably outnumbering advancers and volatility ticking higher. Gold names led the retreat as prices pulled back on profit-taking, dragging stocks such as Liontown Resources (ASX:LTR), Genesis Minerals (ASX:GMD) and Newmont (ASX:NEM) lower. Still, the index is closing January near its highs and remains on track for its strongest monthly showing since August. Not all was gloomy. Healthcare stood out, with ResMed (ASX:RMD) jumping after strong earnings, lifting sentiment across the sector. Media and selected financials also helped, led by Nine Entertainment (ASX:NEC) and AMP (ASX:AMP). With the Australian dollar firm near US$0.70 and markets braced for a likely RBA rate hike next week, investors appear content to lock in gains, even as the broader backdrop stays supportive.

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29 Jan 2026

ASX Pauses Near Records as Banks Weigh and Miners Shine

Australian shares ended Thursday slightly lower, with the S&P/ASX 200 down 0.07%, as investors grew more cautious into the close. Early optimism faded as geopolitical tensions in the Middle East took centre stage, prompting a defensive shift across the market. IT, Industrials and Consumer Discretionary led the declines, while banks slipped on rising expectations of a Reserve Bank rate hike next week. Commonwealth Bank (ASX:CBA) and its peers traded lower as the market weighed stronger margins against the risk of higher bad debts. Resources told a different story. Gold’s surge above $5,600 an ounce drove renewed interest in local miners, lifting names such as Sandfire Resources (ASX:SFR) to fresh highs. Energy stocks also found support as oil pushed above US$64 a barrel. Overall, the session reflected a market caught between tightening monetary policy and the growing appeal of hard assets in an uncertain global backdrop.

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