Tuesday 28th October 2025
Daily Market Update: 29 October 2025
ASX declines as CSL and WiseTech drag the index lower
The Australian sharemarket fell on Tuesday, with the S&P/ASX 200 Index (ASX: XJO) closing down 43.1 points, or 0.5 per cent, at 9012.5. Losses were led by sharp sell-offs in major healthcare and technology stocks, particularly CSL Limited (ASX: CSL) and WiseTech Global Limited (ASX: WTC). CSL slumped 15.9 per cent after downgrading earnings and revenue forecasts and scrapping plans to spin off its vaccine unit. WiseTech shares also fell 15.9 per cent following raids by the Australian Federal Police and the corporate regulator in relation to alleged insider trading by its founder and three other employees. While six of the 11 sectors posted gains, the declines in key large-cap names overshadowed broader sector performance.
Bank gains and takeover talk temper losses
The fall in gold prices triggered profit-taking in mining stocks such as Greatland Gold Limited (ASX: GGP), Capricorn Metals Limited (ASX: CMM), and Newmont Corporation (ASX: NEM), as bullion dropped below $US4000 an ounce amid optimism over a potential US–China trade deal. Conversely, banking stocks rose strongly on hawkish signals from Reserve Bank Governor Michele Bullock, with Commonwealth Bank of Australia (ASX: CBA) up 1.4 per cent, National Australia Bank Limited (ASX: NAB) up 2.5 per cent, Westpac Banking Corporation (ASX: WBC) up 1 per cent, and Australia and New Zealand Banking Group Limited (ASX: ANZ) up 0.7 per cent. Meanwhile, Domino’s Pizza Enterprises Limited (ASX: DMP) surged 17.4 per cent during the session on speculation of a takeover by Bain Capital, before closing up 7.2 per cent after the company denied receiving a formal bid. AUB Group Limited (ASX: AUB) climbed 5.9 per cent following news of a takeover proposal, while Liontown Resources Limited (ASX: LTR) slid 12.8 per cent after reporting significant cash burn.
Tech momentum lifts global equities
Global markets extended gains, with the S&P 500 Index (NYSE: SPX) up 0.2 per cent, the Dow Jones Industrial Average (NYSE: DJI) advancing 180 points, and the Nasdaq Composite Index (NASDAQ: IXIC) rising 0.8 per cent, all setting fresh record highs. The rally was driven by renewed enthusiasm for artificial intelligence and mega-cap tech stocks. Microsoft Corporation (NASDAQ: MSFT) rose 2.3 per cent following a major agreement with OpenAI, while Nvidia Corporation (NASDAQ: NVDA) jumped 6.1 per cent after unveiling a $1 billion investment in Nokia Corporation (NYSE: NOK). Strong earnings from companies such as United Parcel Service, Inc. (NYSE: UPS) and UnitedHealth Group Incorporated (NYSE: UNH) also boosted sentiment. Despite Amazon.com, Inc. (NASDAQ: AMZN) confirming 14,000 corporate job cuts, it gained 1.4 per cent. Investors remain focused on earnings reports from other tech giants and potential guidance from the US Federal Reserve.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.5 | -0.9 | 2.6 | 4.7 | 12.8 |
| Financials | 1.5 | -0.5 | 3.3 | 6.1 | 18.1 |
| Resources | -1.9 | -1.0 | 4.8 | 16.8 | 16.8 |
| Information Technology | -1.1 | -0.5 | -2.9 | -2.8 | 17.5 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.2 | 1.1 | 3.4 | 7.5 | 19.1 |
| Europe | 0.1 | -0.1 | 3.1 | 5.5 | 22.3 |
| Japan | -0.3 | 0.4 | 3.7 | 12.0 | 24.8 |
| China top 50 | -0.6 | 0.9 | 1.9 | 5.6 | 31.2 |
| India top 50 | -1.0 | -0.9 | 5.0 | 1.8 | -0.1 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.1 | -0.3 | 1.3 | 1.7 | 6.0 |
| Australian Corporate Bond | 0.0 | -0.3 | 1.2 | 1.7 | 6.7 |
| US Treasury | 0.3 | 0.1 | 1.6 | 3.4 | 5.4 |
| Cash | 0.0 | 0.1 | 0.3 | 1.0 | 4.2 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -2.9 | -5.7 | 5.1 | 19.6 | 42.9 |
| Silver | -3.2 | -6.1 | 5.0 | 23.6 | 38.1 |
| Crude Oil | -1.1 | 7.1 | -5.9 | -5.2 | 3.9 |
| Bitcoin | -1.6 | 0.7 | 4.6 | -3.7 | 66.8 |
