What's Affecting Markets Today
ASX Stocks
ASX Breaks 9000 as Earnings Beats Drive Rally
The Australian sharemarket surged to fresh highs on Thursday, with the S&P/ASX 200 Index breaching 9000 points intraday before settling at 8992.80, up 0.8 per cent. Gains were broad-based, with 10 of 11 sectors advancing, led by industrials and financials.
Transurban rose 2.5 per cent after a Citi upgrade, while Brambles soared 10.7 per cent on a strong outlook and a $622 million buyback. Financial heavyweights ANZ, Westpac and NAB each gained more than 1 per cent. Woolworths rose 2.7 per cent ahead of results, and CSL climbed 1.9 per cent as buyers returned after recent heavy losses.
Super Retail stole the spotlight, leaping 13.1 per cent on stronger-than-expected earnings. Other standouts included Downer EDI (+5.3%), Bega Cheese (+8.2%), and Northern Star Resources (+0.8%) following a 37 per cent dividend hike.
However, James Hardie tumbled 10.6 per cent after downgrades, while Goodman Group and Qube also fell. Market analysts flagged stretched valuations but said ongoing earnings momentum could sustain the rally.
ASX 200 9,012.2 (+1.05%)
Asia-Pacific Stocks Mixed as ASX Breaks 9000
Asia-Pacific equities delivered a mixed performance on Thursday, with Australian stocks outperforming the region as the benchmark S&P/ASX 200 crossed the 9000 level for the first time. The index gained nearly 1 per cent by early afternoon, buoyed by strong advances in consumer discretionary, financials and real estate. Super Retail Group surged 13.9 per cent on earnings strength, while Vault Minerals and Codan rallied 13.1 per cent and 13.0 per cent, respectively.
Elsewhere, investor focus turned to India ahead of the HSBC Composite flash PMI reading for August, expected at 60.5. Indian benchmarks opened higher, with the Nifty 50 up 0.14 per cent and the Sensex advancing 0.15 per cent.
Japan’s Nikkei 225 slipped 0.57 per cent as losses in Daiichi Sankyo, SoftBank and Denso offset strength from Mitsui Mining & Smelting, up 10.7 per cent, and Advantest, which gained 1.5 per cent. The broader Topix index also eased 0.57 per cent.
South Korea’s Kospi rose 1.12 per cent and the Kosdaq added 0.74 per cent, while China’s CSI 300 advanced 0.84 per cent. Hong Kong’s Hang Seng was little changed.
Leaders
RDX REDOX Ltd (+25.24%)
OCL Objective Corporation Ltd (+20.74%)
MAF MA Financial Group Ltd (+13.77%)
SUL Super Retail Group Ltd (+12.86%)
VAU Vault Minerals Ltd (+11.91%)
Laggards
IPH IPH Ltd (-19.68%)
SHL Sonic Healthcare Ltd (-13.40%)
JHX James Hardie Industries Plc (-9.95%)
EOS Electro Optic Systems Holdings Ltd (-5.62%)
SLC Superloop Ltd (-4.18%)
Join our JTrader Daily Newsletter! Share Trading Made Simple. Rule #1 : Buy stocks that are going UP!
Get our 5 best Stocks that are going Up, sent to your inbox before every trading day!