The ASX200 was smacked 138 points on Monday, with over 90% of the main board closing lower, as fears of tariffs and recession kept all but the bravest investors on the sidelines. Local stocks joined a global risk sell-off, as increasing worries about tariffs pushed Japan's Nikkei down by over 4% and Chinese stocks traded in Hong Kong down by more than 1%. MM is getting the first chapter of our forecast contrarian forecast; let's hope we are correct come Friday.
High-conviction, crowded Wall Street bets have been hammered over recent weeks in a similar fashion to the previously hot stocks on the ASX. The unwind accelerated on Friday, with US stocks tumbling to their second-worst day of the year as risk assets were pummelled by renewed concerns that a flurry of tariffs will stoke inflation just as signs increase that consumer sentiment and spending are buckling.
The ASX 200 slipped 0.4% on Thursday in a quiet session, recovering more than half of its early losses as the banks provided the market with some degree of support. Conversely, the crowded growth trades that dominated the ASX's performance through 2023/4 continued to struggle, e.g., Pro Medicus (PME) -7.8%, Zip (ZIP) -7.1%, NEXTDC (NXT) -6.5%, and HUB24 (HUB) -4.5% - more on this group later.
The ASX 200 rallied 0.7% on Wednesday, with the banks being the cornerstone of the advance. ANZ was the standout, gaining 3% after falling 3.2% on Tuesday when it appeared the operator with a sell order exercised a very heavy hand.
Yesterday, local shares pared early gains to finish only slightly higher as the “Big Four” banks struggled after a solid start. ANZ was the worst, down over 3% on significant volume after starting the day up around 20c.
Australian shares recovered from early selling on Monday to close marginally higher, with strength in the banks doing the heavy lifting – CBA, NAB, and Westpac added almost 25 points to the ASX 200.
Most pundits are blaming Trump 2.0 and the accompanying uncertainty that tariffs entail for the reason that many global indices have corrected from their recent highs; for example, the ASX 200 has fallen 10.2%, and the US S&P 500 has fallen 10.5%.
The ASX 200 enjoyed its best day in six weeks, surging 1.2% on Thursday, clearing 7,900 on broad-based buying, which saw over 80% of the main board close higher. Positive economic news from both the US and domestic markets, particularly regarding interest rates, spurred the rally in equities.
The ASX 200 retreated 0.4% on Wednesday due to broad-based selling, with over 75% of the main board closing lower. The rate-sensitive utilities and real estate sectors underperformed, both falling by more than 1.3%, while the healthcare sector's 0.5% gain was the main glimmer of hope for the bulls.
Tuesday saw local shares pare early gains to finish only slightly higher as US futures slipped away on escalating conflict in the Middle East. The ASX200 closed up just 6 points, surrendering almost 90% of its early morning gain, although over 60% of the main board managed to advance.
High-conviction, crowded Wall Street bets have been hammered over recent weeks in a similar fashion to the previously hot stocks on the ASX. The unwind accelerated on Friday, with US stocks tumbling to their second-worst day of the year as risk assets were pummelled by renewed concerns that a flurry of tariffs will stoke inflation just as signs increase that consumer sentiment and spending are buckling.
The ASX 200 slipped 0.4% on Thursday in a quiet session, recovering more than half of its early losses as the banks provided the market with some degree of support. Conversely, the crowded growth trades that dominated the ASX's performance through 2023/4 continued to struggle, e.g., Pro Medicus (PME) -7.8%, Zip (ZIP) -7.1%, NEXTDC (NXT) -6.5%, and HUB24 (HUB) -4.5% - more on this group later.
The ASX 200 rallied 0.7% on Wednesday, with the banks being the cornerstone of the advance. ANZ was the standout, gaining 3% after falling 3.2% on Tuesday when it appeared the operator with a sell order exercised a very heavy hand.
Yesterday, local shares pared early gains to finish only slightly higher as the “Big Four” banks struggled after a solid start. ANZ was the worst, down over 3% on significant volume after starting the day up around 20c.
Australian shares recovered from early selling on Monday to close marginally higher, with strength in the banks doing the heavy lifting – CBA, NAB, and Westpac added almost 25 points to the ASX 200.
Most pundits are blaming Trump 2.0 and the accompanying uncertainty that tariffs entail for the reason that many global indices have corrected from their recent highs; for example, the ASX 200 has fallen 10.2%, and the US S&P 500 has fallen 10.5%.
The ASX 200 enjoyed its best day in six weeks, surging 1.2% on Thursday, clearing 7,900 on broad-based buying, which saw over 80% of the main board close higher. Positive economic news from both the US and domestic markets, particularly regarding interest rates, spurred the rally in equities.
The ASX 200 retreated 0.4% on Wednesday due to broad-based selling, with over 75% of the main board closing lower. The rate-sensitive utilities and real estate sectors underperformed, both falling by more than 1.3%, while the healthcare sector's 0.5% gain was the main glimmer of hope for the bulls.
Tuesday saw local shares pare early gains to finish only slightly higher as US futures slipped away on escalating conflict in the Middle East. The ASX200 closed up just 6 points, surrendering almost 90% of its early morning gain, although over 60% of the main board managed to advance.
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.
