What's Affecting Markets Today
Asia-Pacific markets mostly advanced on Monday as investors awaited key economic data scheduled for release this week, including China’s industrial output figures and India’s third-quarter GDP report.
Singapore is set to publish its October inflation data later in the day. Economists surveyed by Reuters anticipate a headline inflation rate of 1.8%, down from 2% in September. If confirmed, this would mark Singapore’s lowest inflation rate since March 2021.
Key data releases later this week include South Korea’s central bank rate decision and October inflation readings from Australia on Wednesday. Additionally, November inflation figures from Tokyo, considered a leading indicator for Japan’s nationwide inflation trends, are due Friday.
Japan’s Nikkei 225 climbed 1.44%, with the broader Topix index up 0.97%. South Korea’s Kospi gained 1.28%, while the Kosdaq surged 2.9%.
However, Hong Kong’s Hang Seng Index declined 0.64%, reversing earlier gains, while mainland China’s CSI 300 dropped 0.53%, reflecting cautious sentiment amid mixed regional trends.
ASX Stocks
ASX 200 - 8,431.7 (+0.5%)
Key Highlights:
The Australian sharemarket surged to a fresh all-time high on Monday, driven by broad-based gains, with the S&P/ASX 200 Index climbing 0.7% (55.80 points) to 8449.6 by early afternoon. The index, which peaked at 8462.1 in morning trade, is within 50 points of the 8500 milestone, reflecting a nearly 3% rally this month amid optimism surrounding global economic conditions.
All sectors advanced except financials, which lagged as major banks struggled. ANZ and National Australia Bank each fell 1%, Westpac slipped 0.4%, and Commonwealth Bank eased 0.3% after hitting record highs.
Real estate outperformed, led by Mirvac, which gained 4.3%. Mining heavyweights rose, with Rio Tinto up 1% and Fortescue adding 2.4% on strong iron ore prices. Energy shares gained amid geopolitical tensions, with Woodside up 1.5% and Paladin jumping 2.7%, although Santos dipped 0.4%.
Key movers included SG Fleet (+20%) on a takeover bid, Novonix (+28%) on an offtake deal, and Selfwealth (+6%) on an improved bid. Synlait Milk fell 5.4% despite upgrading forecasts.
Leaders
SGF SG Fleet Group Ltd (+17.98%)
VUL Vulcan Energy Resources Ltd (+10.49%)
MSB Mesoblast Ltd (+8.97%)
GNE Genesis Energy Ltd (+7.11%)
WA1 WA1 Resources Ltd (+5.31%)
Laggards
ERA Energy Resources of Aus (-33.33%)
RSG Resolute Mining Ltd (-6.17%)
NAN Nanosonics Ltd (-5.49%)
BGL Bellevue Gold Ltd (-4.26%)
TAH Tabcorp Holdings Ltd (-4.21%)
