Market Updates

End of Day Report – Thursday 26 September: ASX kicks 77 points higher with more Chinese stimulus


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ASX 200 closed up 74 points to 8202 (+0.9%) as resources took off again and banks stabilised. More Chinese stimulus announced. Modest losses in the big four with CBA down 0.4% and WBC off 0.7% with the Big Bank Basket at $235.04 (-0.3%). MQG ran 1.8% higher to a new record, Insurers better too, QBE up 0.5% and MPL up 1.7%. REITs also in demand with GMG up 0.5% and SCG rising 1.6%. Industrials were firm across the board, QAN took off another 2.1% with ALL 2.8% better. WES rose 1.5% as WOW and COL also rose today. Tech was strong with WTC up 2.8% and XRO a more modest 0.3%. The All-Tech Index up 2.0%. Resources once again found buyers, BHP, RIO and FMG all doing well after a slow start. FMG up 2.9% the best of the three. Lithium stocks making small headway, PLS up 1.4% and MIN flying again up 4.5%. Gold miners better too, EVN up 2.7% and NST rallying 0.6% with uranium stocks glowing red hot, PDN up 7.6% and BOE up 5.4%. LYC continued to impress running 1.7% higher. Oil and gas a sullen place today with WDS down 2.7% and STO off 2.3%. Coal stocks better again. In corporate news, PTM knocked back the RPL bid officially, SOL and BKW reported and saw an increase in dividend for SOL again. LLC got the nod from the ACCC, SGR revealed it had fallen to a $1.7bn loss. In economic news, job vacancies are falling as the RBA wishes. Asian markets firmed on fresh Chinese stimulus. Japan up 2.7%, HK up 3.1% and China up 2.5%. 10Y yields steady at 3.95%. Dow Futures up 145 points (+0.3%) and NASDAQ Futures up 241 points (+1.2%). 

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