AUS
NZ
UK
CA
USA
IND
Highlights
- (CBA) leads market rebound with modest gains
- Data centre and tech stocks shine on AI investment optimism
- (JDO) tumbles on weak lending outlook
Australia’s benchmark index extended its winning streak for a sixth straight session, with the S&P/ASX 200 nudging into positive territory after tracking a late rally on Wall Street. The index was up 0.1% or 4 points to 8130.2 in afternoon trade, supported largely by gains in banking and technology sectors, especially Commonwealth Bank (ASX:CBA) and Goodman Group (ASX:GMG).
The local bourse initially opened weaker before a turnaround in (ASX:CBA) drove a mild recovery, with the bank’s stock rising 0.2%. However, peers (ASX:NAB), (ASX:WBC), and (ASX:ANZ) all ended lower, reflecting mixed sentiment within the broader financial sector.
Tech-led resilience helped lift the market, inspired by robust earnings from US tech majors. After Microsoft and Meta beat Wall Street expectations, optimism flowed into local technology names. DigiCo Infrastructure REIT (ASX:DCG) saw the largest single-day gain of 8.9% on expectations of increased data centre investment to support artificial intelligence infrastructure. (ASX:GMG) also gained 3%, while logistics platform WiseTech Global (ASX:WTC) jumped 5.8%.
On the downside, Judo Capital Holdings (ASX:JDO) plunged 16% following a surprise third-quarter update that flagged weaker-than-expected lending growth, significantly below earlier guidance. The news rattled investors and dragged the company sharply lower.
The mining and energy sectors struggled amid concerns about global economic momentum. A softer iron ore price, driven by muted Chinese manufacturing activity, weighed on major miners. BHP Group (ASX:BHP) dropped 1.6%, while Rio Tinto (ASX:RIO) lost 1.1%. Meanwhile, oil-linked names also came under pressure as Brent crude edged toward US$61 a barrel. Woodside Energy (ASX:WDS) declined 2.4% and Santos (ASX:STO) slipped 1%.
Elsewhere in corporate news, Platinum Asset Management (ASX:PTM) soared 10.9% after confirmation of merger discussions with L1 Capital, which recently acquired a significant stake in the business. Meanwhile, Woolworths Group (ASX:WOW) gained 1.1% as its e-commerce division recorded $2.2 billion in quarterly sales.
Amid sector volatility, investors are navigating earnings results and shifting macroeconomic signals, including signs of easing inflation in the US. This has raised speculation about potential rate cuts and continues to shape sentiment across equity markets globally.
For income-focused investors, this market momentum may renew interest in ASX dividend stocks, particularly as earnings season highlights company-specific strength and resilience within the ASX 200 landscape.
