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The ASX200 drifted steadily lower throughout Tuesday to close up just 4-points after being almost 50-points to the good earlier in the day, fortunately for the index the banks were firm on yet another day when investors showed zero interest in buying strength. Ultimately less than 35% of stocks closed up for the session which saw further weakness across the Resources Sector as recession fears continue to gather momentum, a number of major miners made fresh multi-month lows including the 5 below while others look destined to follow their lead over the coming days:

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Latest Reports

Afternoon report

The Match Out: ASX surges as soft CPI and ‘progress’ in the Middle East combine for the index’s best day 2 months

The ASX enjoyed a strong rebound today, bouncing sharply as investors latched onto two positives at once. Brent crude rolled over in Asian trade after the US President purportedly presented Iran with a 15-point plan to end the conflict, helping to calm nerves. At the same time, the February CPI print came in a touch softer than feared, giving the market some confidence that domestic inflation pressures are easing.

The Match Out Market Matters 2
Morning report

Portfolio Positioning: Looking through the noise from the Iran War

The ASX200 managed to close up +0.2% on Tuesday, but it wasn’t pretty with the index ending the session more than 100 points below its early morning high. The issue was the credibility of President Trump's claims that talks are underway to end the conflict with Iran, where reports of such talks were called “Fake News.” The attacks continue, although Trump has postponed strikes on Iran’s energy infrastructure, citing “productive conversations” with Tehran.

Afternoon report

The Match Out: Materials drive early bounce, ASX fades through the session

The ASX finished modestly higher but well off its intraday highs after an early relief rally faded as the geopolitical backdrop in the Middle East remained fluid. The index surged more than +130pts at the open, briefly pushing 8500, before momentum cooled as US futures slipped gradually through the day.

The Match Out Market Matters 2
Afternoon report

The Match Out: ASX down but recovers nicely from morning lows

The ASX finished lower, though it was much worse early on in the session. The war in the Middle East continues to dominate sentiment, with the market now down ~9% from the start of March, flirting with technical 'correction' territory.

The Match Out Market Matters 2
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