HomeReportsWhat Matters Today: Is David Teohs selling TPG a Telco…
The ASX200 continues to find buying support into decent dips but it’s not yet got the stamina / belief to make any headway on the upside, yesterday saw the local market bounce over 50-points from a weak open, following an aggressive late downturn by US markets, but once it returned to unchanged the buying almost instantly became far more passive. Currently markets are transfixed on any fresh news around the Omicron variant and until we see the market hold firm on bad news the likelihood is we haven’t yet seen the end…
The ASX 200 finished a choppy week down just -0.5%, recovering from early weakness sparked by President Trump’s threats toward European allies tied to his ambitions around Greenland. While the rhetoric was quickly walked back at Davos, the episode was a reminder of how abruptly geopolitical risk can re-emerge. Yet markets largely shrugged it off, highlighting their resilience to headline-driven volatility. The “buy-the-dip” trade — closely tied to the so-called “TACO trade” (Trump Always Chickens Out) — continues to deliver, at least for now. The market may feel unsettled to many, but it's still up +1.7% year-to-date, dragged higher by a robust materials sector, which has already surged +9.3% in 2026.
The ASX 200 finished a choppy week down just -0.5%, recovering from early weakness sparked by President Trump’s threats toward European allies tied to his ambitions around Greenland. While the rhetoric was quickly walked back at Davos, the episode was a reminder of how abruptly geopolitical risk can re-emerge. Yet markets largely shrugged it off, highlighting their resilience to headline-driven volatility. The “buy-the-dip” trade — closely tied to the so-called “TACO trade” (Trump Always Chickens Out) — continues to deliver, at least for now. The market may feel unsettled to many, but it's still up +1.7% year-to-date, dragged higher by a robust materials sector, which has already surged +9.3% in 2026.
The ASX finished modestly higher as a rare day of strength for the IT stocks and continued support for the gold miners offset broader caution across banks and consumer shares. While the headlines have cooled through the week, geopolitical tension and rake hike expectations continue to reinforce nervous sentiment, as the market positions for what will likely be a volatile reporting season ahead – both here and in the US.
The ASX 200 bounced +0.8% on Thursday, driven higher by a robust banking sector - the financials contributed 80% of the index's 66-point gain. The gold sector dominated the losers' enclosure as the precious metal lost its shine following Trump's more balanced speech from Davos, which notably stated that the US wouldn’t invade Greenland or impose tariffs on European nations in February.
The ASX proved resilient today, shaking off a stronger-than-expected jobs report that lifted rate-hike expectations for the February RBA meeting. Tariff fears eased as President Trump softened his stance on Europe and Greenland underpinning sentiment, with strength across the banks and energy sector more than offsetting weakness in gold, allowing the market to hold solid gains into the close.
The ASX 200 slipped another 0.4% on Wednesday, its third consecutive decline, which was not enough to take the index into negative territory for the year, but it's trying hard. After a brief attempt to bounce on Tuesday, the growth stocks returned to the losers enclosure while the resources delivered another standout performance to mitigate the day's decline.
The ASX fell for a third consecutive session, although strength in some pockets (resources) was enough to only see modest declines at the index level. Tech and banks the major drags, while Gold rallied another $US100/oz to hit yet another record high at $US4871/oz - so much for it being a crowded trade!
The ASX200 retreated another -0.7% on Tuesday, leaving the index up only +1.2% for 2026 - not too bad considering the current geopolitical tensions unsettling markets. Selling wasn’t particularly broad-based in yesterday’s session, with over 40% of the main board closing higher, but when the “Big Four” banks and BHP Group (BHP) find themselves in the naughty corner, the local bourse is always going to struggle.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
