DELAYED AFTERNOON NOTE: The Match Out: ASX hit 1.8% to end a tough week for stocks

A soft end to a tough week in markets with the ASX now off ~8% from the high set on Valentine’s Day (8615), closing sub 8000 at 7948, a 6-month low. Over 80% of the market fell, with very few places to hide. The selling was Aussie centric, obviously, weakness overnight played into it and being a Friday creates a void of buyers, but we were not being pressured further from weakness overseas during our session.

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Afternoon report 05/06/2025 16:39

The Match Out: Lithium stocks rally in an otherwise quiet session

A quiet day at the index level with the market closing flat, early strength was sold into, however, there was some reasonable moves in some stocks particularly in the resources space headlined by Lithium.

Morning report 05/06/2025 09:49

What Matters Today: Is it time to chase yield with three rate-cuts by Christmas?

Wednesday saw the ASX 200 rally to within 1% of its all-time trading high on broad-based buying, with over 70% of the main board advancing, including the all-important banks and large-cap miners; the path of least resistance remains on the upside.

Afternoon report 04/06/2025 17:52

The Match Out: ASX knocks on the door of all-time highs again

The bulls came to play today with the ASX having a great session, but more interestingly, the higher beta parts of the market like BNPL, Uranium , Lithium all attracted solid buying, but it wasn't at the expense of the much loved ‘certainty’ trade which remained well bid, implying new money is starting to gravitate back into the market. Weak GDP data released at 11.30am should underpin a more aggressive stance towards rate cuts from the RBA, and as a long as things cool rather than crater, lower rates should see stocks trade higher.

Morning report 04/06/2025 09:32

Portfolio Positioning: The unloved Bull Market keeps pushing ever higher

The ASX200 advanced +0.6%, closing less than 2% below its February all-time high. The market held onto early Wall Street-inspired gains after the US extended its pause on some Chinese tariffs to August 31, providing a tailwind for risk-on sentiment in the region. However, iron ore and base metal stocks struggled after China’s PMI (manufacturing activity) slipped to its lowest since 2022.

Afternoon report 03/06/2025 17:01

The Match Out: Financials & Gold drive ASX to new 3-month highs

A solid day for the ASX hitting new 3-month highs buoyed by strength across the financial sector with an average gain across the big 4 banks of 1%, while gold stocks rallied as bullion tested ~$US3400/oz overnight

Morning report 03/06/2025 09:30

What Matters Today: As Gold Shines and Copper Climbs, is it time to revisit Lithium?

The ASX200 started June on the back foot, slipping 0.2%. Overall, this was not a bad performance, considering that further geopolitical uncertainty rattled global markets after a few quiet weeks; the S&P 500 futures were down ~0.5% during our trading session.

Afternoon report 02/06/2025 17:13

The Match Out: Commodities weigh on ASX as Trump restarts the tariff engine

Someone seems to have told Trump about the TACO term (Trump Always Chickens Out) which has gotten him firing again with higher tariffs on Steel imports and accusations that China is not holding up its end of the bargain, reducing tariffs while negotiations take place.

Morning report 02/06/2025 09:24

Macro Monday: Can the ASX make new highs into the EOFY?

Yet again, the “sell in May & go away” catchphrase played out as the myth that the statistics foretold. Although the stellar 3.8% gain was the second-best of the last decade. The most critical point when it comes to considering the seasonality of the ASX200 is to “Keep it Simple, Stupid” (KISS) with our favourite three factors looking forward towards Christmas.

Weekend report 31/05/2025 09:13

Weekend Q&A: As we approach the EOFY, the ASX200 is flirting with its all-time high

The ASX 200 rallied on the final trading day of May, closing up +0.3% for the session, leaving the index just ~2% below its all-time high. Overall, an excellent performance by the Australian bourse, advancing +3.8% for the month, shrugging off the ongoing uncertainty around tariffs and rising long-dated bond yields. However, a more dovish than expected RBA, a strong banking sector, suspicions of overseas buying, and a market caught underweight stocks after their dramatic “V-shaped” recovery from Trump's “Liberation Day” was enough to drive the local market back towards the 8600 area. With pullbacks well supported in one of the most hated bullish advances that we can recall, it makes for a compelling argument that new highs are just around the corner.

Afternoon report 30/05/2025 16:47

The Match Out: Sell in May (& go away) not the go this year, ASX gains 3.8%!

The final trading day of the month carried the ASX to a 3.8% gain over the period and now within ~200pts of all-time highs with investors brushing off tariff risk and shifting focus back to fundamentals.