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What's Affecting Markets Today
Samsung, SK Hynix Power Kospi to Record High; Asia-Pacific Markets Mixed
South Korea’s Kospi index surged more than 3 per cent on Thursday to reach a fresh all-time high, driven by strong gains in heavyweight technology stocks. Samsung Electronics rose over 4 per cent, while SK Hynix jumped 11 per cent after unveiling a partnership with OpenAI to supply advanced memory chips. The tech-led rally also lifted the Kosdaq, which added 0.95 per cent.
On the macro front, South Korea’s consumer price index rose 2.1 per cent year-on-year in September, exceeding economists’ expectations of a 2 per cent increase and accelerating from August’s 1.7 per cent rise.
Elsewhere in the region, Japan’s Nikkei 225 advanced 0.6 per cent, though the broader Topix fell 0.54 per cent, highlighting sectoral divergences. In Australia, the S&P/ASX 200 climbed 1.14 per cent, extending gains on the back of strength in banks and miners.
Hong Kong’s Hang Seng Index gained 1.3 per cent, with Zijin Gold soaring nearly 12 per cent, continuing momentum since its Tuesday trading debut. The Hang Seng Tech index rose 2.08 per cent. Chinese and Indian markets remained shut for holidays.
ASX Stocks
ASX 200 8,955.10 (+1.23%)
ASX Rises 1.1% as Banks and Gold Miners Surge; News Corp Slumps
The Australian sharemarket advanced strongly on Thursday, buoyed by rallies in the major banks and surging gold prices. The S&P/ASX 200 Index rose 1.1 per cent, adding 98.8 points to reach 8944.5 by mid-afternoon, with nine of the 11 sectors trading higher.
The materials sector led gains, climbing 2.1 per cent after bullion hit a record US$3895.38 an ounce, extending its five-day winning streak amid safe-haven demand linked to the US government shutdown. Local gold producers were standout performers, with Westgold Resources up 7.6 per cent, Northern Star and Bellevue Gold both 3.6 per cent higher, and Evolution Mining adding 2.9 per cent. Mining giants BHP and Rio Tinto also gained over 1 per cent.
Banking stocks strengthened, led by Commonwealth Bank, which advanced 1.9 per cent to $170.02. CSL lifted 3.3 per cent, tracking Wall Street’s healthcare rally.
In corporate moves, ARN Media fell 2 per cent on CEO changes, REA Group slipped 1.6 per cent following a Canadian acquisition, and News Corp dropped 5.2 per cent. James Hardie added 1.6 per cent despite defending controversial executive incentives.
Leaders
CU6 Clarity Pharmaceuticals Ltd (+10.53%)
BVS Bravura Solutions Ltd (+10.37%)
NXL NUIX Ltd (+9.23%)
LTR Liontown Resources Ltd (+9.09%)
DTR Dateline Resources Ltd (+9.00%)
Laggards
DRO Droneshield Ltd (-13.50%)
EOS Electro Optic Systems Holdings Ltd (-13.36%)
4DX 4DMEDICAL Ltd (-7.08%)
NWS News Corporation (-5.43%)
SLC Superloop Ltd (-5.35%)
