Thursday 28th August 2025
Daily Market Update: 29 August 2025
ASX climbs as financials lead
The S&P/ASX 200 Index advanced 19.5 points, or 0.2 per cent, to close at 8980 on Thursday, edging closer to a fifth consecutive monthly gain. Investor sentiment was buoyed by a busy earnings season, despite ongoing market volatility. While energy and materials sectors dragged, financials provided the uplift. National Australia Bank Limited (ASX: NAB) rose 2.4 per cent after a Morgan Stanley upgrade, with Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corporation (ASX: WBC), and Australia and New Zealand Banking Group Limited (ASX: ANZ) also posting gains. Meanwhile, Goodman Group (ASX: GMG) and Lifestyle Communities Limited (ASX: LIC) lifted the real estate sector.
Earnings moves spark large shifts
Among the most significant moves, IDP Education Limited (ASX: IEL) surged 29.7 per cent to $5.89 on a bullish profit forecast, despite being heavily shorted. Qantas Airways Limited (ASX: QAN) soared 9.1 per cent to a record high following strong earnings driven by Jetstar. Eagers Automotive Limited (ASX: APE) gained 12 per cent as electric vehicle sales propelled its half-year profit higher. On the downside, Ramsay Health Care Limited (ASX: RHC) sank 10.5 per cent on financing cost concerns, and Telix Pharmaceuticals Limited (ASX: TLX) fell 18.8 per cent due to FDA concerns about its Zircaix product. Losses were also seen in South32 Limited (ASX: S32), Macquarie Technology Group Limited (ASX: MAQ), and Medibank Private Limited (ASX: MPL).
US stocks advance as AI optimism persists
On Wall Street, the S&P 500 hit a fresh record above 6,500, while the Nasdaq 100 gained 0.6 per cent and the Dow Jones Industrial Average rose 72 points. Investor optimism was supported by strong economic data and continuing enthusiasm for artificial intelligence. NVIDIA Corporation (NASDAQ: NVDA) reported a 56 per cent jump in revenue but excluded China from its outlook, keeping its share price subdued despite analyst optimism. Other tech leaders including Broadcom Inc. (NASDAQ: AVGO), Micron Technology Inc. (NASDAQ: MU), Microsoft Corporation (NASDAQ: MSFT), Meta Platforms Inc. (NASDAQ: META), and Amazon.com Inc. (NASDAQ: AMZN) all advanced. Meanwhile, US GDP was revised up to 3.3 per cent and jobless claims fell, easing recession concerns. Earnings strength was also seen in CrowdStrike Holdings Inc. (NASDAQ: CRWD), HP Inc. (NYSE: HPQ), and Snowflake Inc. (NYSE: SNOW).
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.3 | -0.3 | 3.7 | 7.6 | 15.4 |
| Financials | 1.1 | -1.1 | 4.9 | 7.4 | 21.9 |
| Resources | -0.8 | 2.7 | 8.2 | 13.4 | 16.9 |
| Information Technology | -0.7 | -1.4 | 0.0 | 6.0 | 27.4 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.3 | 0.8 | 2.2 | 9.3 | 22.6 |
| Europe | -0.1 | -1.2 | 2.5 | 2.9 | 18.5 |
| Japan | 0.8 | -1.0 | 6.6 | 6.5 | 17.5 |
| China top 50 | -2.3 | -0.1 | 0.2 | 8.8 | 57.5 |
| India top 50 | 0.4 | -2.8 | -0.4 | -3.5 | -1.1 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.2 | 0.1 | 0.7 | 1.2 | 3.3 |
| Australian Corporate Bond | 0.1 | 0.1 | 0.7 | 1.4 | 4.1 |
| US Treasury | 0.2 | 0.3 | 1.3 | 2.0 | 1.0 |
| Cash | 0.0 | 0.1 | 0.3 | 1.0 | 4.3 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 0.1 | 0.2 | 2.8 | 1.2 | 39.9 |
| Silver | 0.4 | 0.8 | 0.9 | 13.6 | 35.0 |
| Crude Oil | 0.6 | 1.0 | -2.4 | 9.9 | -2.9 |
| Bitcoin | 0.9 | -1.6 | -4.1 | 3.5 | 92.6 |
