Market Updates

End of Day Podcast – Wednesday 28th September


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  •  ASX 200 falls another 34 points to 6462 (0.5%) as AUD gets hit in Asian woes. Early strength gives way to Asian selling pressure and AUD under siege. Banks in the firing line today with the Big Bank Basket down to $165.51 (0.8%). MQG continuing to slip slide away, down 2.5%, QBE down 2.2% on Hurricane woes perhaps. ASX up 1.6% despite scathing RBA report. Healthcare eased, CSL down 0.8% and RHC sliding away again down 0.8%. REITs weak and industrials also in the doghouse, WES down 2.0%, WOW off 0.4% and TWE off 1.0%. TLS rallied 2.7% on Optus woes, and Tech eased back with the index falling 1% as CPU dropped 0.6% and XRO fell 3.2%. In resources some early strength took a beating as BHP rose 0.1%, RIO down 0.4% and FMG under pressure off 2.1%. Base metals too falling S32 down 1.1% and MIN off 3.7%. Lithium stocks were a little depressed, CXO down 7.6% PLS falling 2.8% and AKE down 3.1%. Oil and gas eased STO off 1.3% after PNG LNG deal failed to stir brokers excitement though coal stocks enjoyed another day in the sun after Macquarie upgraded price forecasts. 
  • In corporate news, BUB has signed a deal for a Chinese JV, UP 5.1%, TLX has hit a wall in Europe with withdrawal of Illuccix application, falling 15.4%. 
  • In economic news, retail sales remain strong local, but in Asia market tumbling on the rampant USD. Japan down 2.5%, HK down 2% and China down %. 10-year yields pushing ever higher to 4.09%


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Market UpdatesBy Marcus Today


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