UBS Group AG (UBS US)

05/07/2023

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Afternoon report 28/05/2026

The Match Out: ASX falls as Middle East tensions flare again

A tough session for the ASX today following fresh escalation in the Middle East. The local market turned sharply lower after Iran claimed it had targeted a US military base following American airstrikes near Bandar Abbas, reigniting fears around oil supply disruptions with U.S President Donald Trump objecting to Iran’s claim to the Strait of Hormuz and asserting no one nation should control the vital waterway – a key sticking point in resolving the crisis.

Morning report 28/05/2026

What Matters Today: Four ASX Stocks set to benefit as Inflation remains muted

The ASX 200 roared back to life on Wednesday, reversing early weakness to close up 0.7%, with aggressive late-session buying sweeping through the market and reigniting risk appetite. Over 70% of the main board closed higher, but it was the rate-sensitive stocks that started to move after the April inflation numbers came in slightly better than expected - Consumer Discretionary (+1.8%), Tech (+1.8%), Utilities (+1.7%), and Real Estate (+1.6%) were the top four sectors on the day.