ASX 200 Reverses Early Losses to Close Higher

The ASX 200 added 21 points, or 0.2%, to end at 9,030 on Monday, swinging from early losses amid gains in non-energy minerals, tech, and logistics. Stronger U.S. stock futures lifted sentiment as traders assessed the tech sector's recovery ahead of key inflation data and earnings from major AI companies. Locally, RBA data showed the value of transactions through Australia's New Payments Platform jumped 29% yoy in September. In main trading partner China, annual inflation slowed to a three-month low of 0.7% in October, while producer prices rose the most in over four years amid firmer commodity prices and improving industrial demand. Goodman Group gained 1.9% after partnering with Digital Realty to buy a 9.9% stake in Nextdc. Gold miners also advanced, led by Evolution Mining (5.3%) and Northern Star Resources (0.8%), while mining giant BHP climbed 2.9%. In contrast, all four big banks fell, with ANZ down 3.4% after reporting slightly weaker-than-expected FY 2026 operating income.

Australian stocks fell 35 points, or 0.4%, to 8,972 in Monday morning trade, marking the second session of losses amid declines in industrials, financials, and transport. Sentiment weakened as S&P 500 and Nasdaq futures dropped ahead of key U.S. inflation data and earnings from major AI companies this week. Traders also turned cautious before several releases in main trading partner China, including October CPI and PPI later Monday and trade data on Tuesday. Meanwhile, RBA Deputy Governor Hauser acknowledged that aggressive rate hikes had caused cash-flow pressures for mortgage holders and renters, but warned that allowing inflation to spiral would inflict greater economic pain. Losses were capped by a confirmed recovery in Australian building approvals for September. The four major banks fell between 0.7% and 2.8%, while Scentre Group (-3.9%) and Qantas Airways (-2.1%) posted sharp losses. In contrast, PLS Group (4.2%), Mineral Resources (3.9%), and Lynas Rare Earths (2.9%) advanced.

The ASX 200 fell 44 points, or 0.5%, to close at 9,021 on Friday, reversing the prior session’s rally as Dow futures dropped sharply following Thursday’s Wall Street sell-off. Concerns over surging AI spending and whether data center expansion justifies current valuations weighed on sentiment. Tech, logistics, and mining led losses, while financials and transport strengthened. Heavyweights BHP Group (-2.3%) and Rio Tinto (-2.0%) dipped as copper prices slid to their lowest since July, amid worries over potential shifts in U.S. policy following Democratic gains in the midterm elections. Still, early losses narrowed as some investors rotated into defensive stocks. Goodman Group fell 3.2% on fears that U.S. restrictions could curb data center construction. Macquarie Group (-3.7%) and Reece (-3.1%) also lost. In contrast, the four big banks rose 0.6%–2.7%, while Woolworths added 1.8%. For the week, the ASX 200 extended previous gains, up by 1.3%, on a surging trade surplus in September.