What's Affecting Markets Today
ASX Stocks
ASX Retreats from Record High as Profit-Taking Hits Key Sectors
The Australian sharemarket eased on Friday after touching record highs earlier in the week, with investors locking in profits following strong earnings-driven gains.
At 1:55pm AEST, the S&P/ASX 200 Index was down 27.9 points, or 0.3 per cent, to 8991.2. Losses across consumer staples, real estate and retail outweighed strength in resources and technology.
Sector Moves:
Consumer staples led declines as Inghams Group slumped 20.6 per cent on weaker-than-expected earnings and guidance. Coles fell 2.6 per cent and Woolworths lost 1.8 per cent. Real estate stocks also weighed, with Goodman Group down 4.2 per cent and Lendlease off 2.2 per cent amid tensions with major investors. By contrast, technology outperformed with Codan up 7.6 per cent, and TechnologyOne and Life360 both rising more than 2 per cent.
Company Highlights:
Guzman y Gomez plunged 23.1 per cent to a record low after disappointing results, while Accent Group dropped 15.8 per cent on slowing sales. Monash IVF shed 12.8 per cent despite results in line with guidance. Zip surged 19.2 per cent on news of a potential Nasdaq dual listing, while James Hardie rebounded 5.4 per cent after steep losses earlier in the week.
ASX 200 8,975.4 (-0.47%)
Asia-Pacific Markets Mixed Ahead of Powell Speech
Asia-Pacific equities traded in mixed territory on Friday as investors awaited U.S. Federal Reserve Chair Jerome Powell’s remarks at the central bank’s annual economic symposium, seeking clarity on the future path of interest rates.
In Japan, the Nikkei 225 dipped 0.18 per cent, while the broader Topix edged 0.37 per cent higher. The latest data showed core inflation easing to 3.1 per cent in July, down from 3.3 per cent in June but still above the 3 per cent forecast. Food inflation moderated, with rice prices rising 90.7 per cent compared to triple-digit surges in prior months.
South Korea advanced, with the Kospi up 0.66 per cent and the tech-heavy Kosdaq gaining 0.41 per cent. In Australia, the S&P/ASX 200 retreated 0.3 per cent after breaching the 9,000-point threshold for the first time on Thursday.
Chinese markets outperformed, with the CSI 300 rising 1.18 per cent and Hong Kong’s Hang Seng Index adding 0.32 per cent. Meanwhile, India’s Nifty 50 opened weaker, slipping 0.52 per cent.
Leaders
ZIP ZIP Co Ltd (+18.75%)
CDA Codan Ltd (+8.32%)
JHX James Hardie Industries Plc (+5.80%)
VAU Vault Minerals Ltd (+5.32%)
NWH NRW Holdings Ltd (+4.97%)
Laggards
ING Inghams Group Ltd (-20.28%)
GYG Guzman Y Gomez Ltd (-18.23%)
AX1 Accent Group Ltd (-17.17%)
PWH PWR Holdings Ltd (-9.10%)
RRL Regis Resources Ltd (-8.17%)
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