Daily Market Update: 15 December 2025

ASX rises as gold miners lead the charge

The Australian share market posted its strongest gain in nearly three weeks on Friday, with the S&P/ASX 200 Index (ASX: XJO) rising 105.30 points or 1.3 per cent to close at 8697.30. This marked the index’s third consecutive advance, lifting its weekly gain to 0.7 per cent and delivering its best streak since August. Optimism was fuelled by expectations of further interest rate cuts in the United States, alongside the Reserve Bank of Australia’s (RBA) decision to maintain rates at 3.6 per cent while hinting at the possibility of further tightening due to rising inflation. Citigroup Inc. (NYSE: C) adjusted its forecast for the next RBA rate hike to February.

Gold miners and banks fuel local rally

Materials stocks led the charge as spot gold prices surged to $US4280 per ounce, boosting local gold miners. Newmont Corporation (ASX: NEM) climbed 5.7 per cent to $150.06, Genesis Minerals Limited (ASX: GMD) rose 7.6 per cent to $6.90, and Evolution Mining Limited (ASX: EVN) gained 4.2 per cent to $12.76. Strength in gold prices, underpinned by a weaker US dollar, continues to attract investor attention. The major banks also recorded gains: Westpac Banking Corporation (ASX: WBC) rose 1.4 per cent, National Australia Bank Limited (ASX: NAB) gained 1.8 per cent, Commonwealth Bank of Australia (ASX: CBA) added 2.1 per cent, and Australia and New Zealand Banking Group Limited (ASX: ANZ) rose 1.2 per cent. Elsewhere, Austal Limited (ASX: ASB) fell 3 per cent after Hanwha’s stake expansion was conditionally approved, while Scentre Group (ASX: SCG) gained 1 per cent following a $683 million retail joint venture deal. Notably, 4DMedical Limited (ASX: 4DX) jumped 8.8 per cent on successful capital raising, and newly listed BMC Minerals Limited (ASX: BMC) surged 25 per cent on debut.

Tech stocks drag down Wall Street

Global markets ended the week on a mixed note as US equities faced sharp losses led by a selloff in major technology and semiconductor stocks. The S&P 500 Index (NYSE: SPX) dropped 1 per cent, the Dow Jones Industrial Average (NYSE: DJI) fell 0.4 per cent, and the Nasdaq Composite Index (NASDAQ: IXIC) declined 1.8 per cent. Broadcom Inc. (NASDAQ: AVGO) led the downturn, plunging 11.4 per cent on margin concerns, while other AI and chip-related companies including NVIDIA Corporation (NASDAQ: NVDA), Oracle Corporation (NYSE: ORCL), Palantir Technologies Inc. (NYSE: PLTR), Advanced Micro Devices Inc. (NASDAQ: AMD), and Micron Technology Inc. (NASDAQ: MU) also posted significant losses. Despite broader optimism from recent Federal Reserve rate cuts, concerns over tech valuations and inflation linger. Defying the trend, Lululemon Athletica Inc. (NASDAQ: LULU) rallied 9.6 per cent after raising its full-year forecast and announcing a new CEO. For the week, the S&P 500 lost 0.5 per cent, the Dow rose 1.2 per cent, and the Nasdaq fell 1.9 per cent.