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What's Affecting Markets Today
Asia-Pacific Markets Trade Mixed as Wall Street Declines on Weak U.S. Consumer Confidence
Asia-Pacific markets showed a mixed performance on Wednesday, tracking overnight losses on Wall Street following a weaker-than-expected U.S. consumer confidence survey.
Japan’s Nikkei 225 (-1.09%) and Topix (-0.99%) extended losses for a second consecutive session, while South Korea’s Kospi (+0.11%) and Kosdaq (+0.52%) saw modest gains. China’s CSI300 (+0.16%) opened higher, and Hong Kong’s Hang Seng Index (+1.71%) surged at the open ahead of the city’s 2025-2026 budget announcement.
Australia’s S&P/ASX 200 fell 0.26%, marking its second straight day of losses. The country’s weighted consumer price index (CPI) remained at 2.5% year-on-year in January, in line with Reuters forecasts, signaling persistent inflationary pressures.
Investors across the region remain cautious amid global economic uncertainty and central bank policy expectations. The market sentiment reflects concerns over slowing consumer confidence in the U.S., geopolitical risks, and policy shifts in key economies. Traders are closely monitoring inflation trends, interest rate outlooks, and fiscal policy updates in major Asia-Pacific markets.
ASX Stocks
ASX 200 - 8,221.2 (-0.40%)
ASX Falls to Six-Week Low Amid Broad Market Weakness
The S&P/ASX 200 declined 0.3% (-27.5 points) to 8,224.40 by Tuesday afternoon, dipping below its six-week closing low. The All Ordinaries Index fell 0.4%, with eight of 11 sectors in negative territory. Consumer staples and materials led declines as risk-off sentiment weighed on Australian miners.
Commodity concerns pressured resource stocks, with iron ore slipping below $US106 per tonne amid uncertainty over potential Trump-era tariffs on global trade. Copper prices also faced downside risks following reports of possible U.S. levies. BHP (-1.4%), Rio Tinto (-2%), Fortescue (-12.1%), Evolution Mining (-2.8%), and Newmont (-2%) traded lower.
Corporate Highlights:
- Woolworths (-4.3%) fell after a 21% drop in first-half profit and $240 million in lost sales from pre-Christmas strikes.
- WiseTech (-2.4%) declined after leadership changes led to a 20% plunge in the prior session.
- Flight Centre (-11.2%) despite 7% profit growth due to productivity concerns.
- Worley (+10.5%) surged on a $500 million buyback and 72% profit increase.
- Bapcor (+14.7%) gained on cost-cutting efficiencies.
- Platinum Asset Management (-20%) slumped on weaker earnings.
Leaders
BAP – Bapcor Ltd (+14.48%)
WOR – Worley Ltd (+10.27%)
LNW – Light & Wonder Inc (+7.86%)
SIQ – Smartgroup (+7.75%)
MGH – Maas Group (+7.02%)
Laggards
KLS – Kelsian Group Ltd (-15.61%)
IDX – Integral Diagnostics Ltd (-13.99%)
FLT – Flight Centre (-11.46%)
SDR – Siteminder Ltd (-9.89%)
BOT – Botanix Pharma (-7.92%)
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