Monday 23rd March – ASX closes down 63 points, off lows, US Futures down slightly – Gold tumbles – 10-year yields jump.

23 Monday Mar 2026

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The ASX 200 rallied hard off morning lows to close down only 63 points at 8366 (-0.7%). Banks eased on a Macquarie downgrade, CBA off 0.8% and NAB down 1.8% with insurers faring better on higher bond yields, QBE up 1.2% and IAG rallying 2.5%. Other financials were mixed, SOL fell 1.7% and XYZ up 2.4%. The Big Bank Basket fell to $295.61 (-1.0%). Industrials were generally better, ALL up 2.6%, JBH rallied 2.1% and utilities did well, ORG up 1.6% with healthcare finding some friends, CSL up 0.9% and RMD finding a base. Tech stocks were mixed, WTC fell another 5.0% on front page coverage, TNE rallied 3.4% and the All-Tech Index was % better.

Resources struggled all day, gold miners especially hard hit, NST falling another 7.0% and EVN off 7.3% with GMD down 5.0%. BHP and RIO slipped around 0.8 and 1.7% lower respectively, FMG steady, lithium found some late buyers, oil and gas better on crude oil gains, WDS up 2.2% and STO up 0.9%. Uranium was not so enriched today, PDN down 6.1% and LOT falling 12.1%. Coal stocks were mixed, WHC up 1.0% and NHC down 0.5%.

In corporate news, SGH rose 0.2% on a new CEO of Boral. MI6 unchanged on FIRB approvals and on the economic front we had business credit numbers.

Asian markets sold down heavily, Japan closed last Friday so some catch up down 3.5%, China off 2.4% and HK down 3.5%.

10-year yields surge to 5.11%. European futures showing a loss of around 1-1.5% on the open.

US Futures very volatile. Dow down 140 Nasdaq down 117.

HIGHLIGHTS

  • Winners: DTR. APE, PMV, AUB, HSN, MAH, KAR
  • Losers: TCG, KCN, SX2, CYL, ALK, BC8, OBM
  • Positive Sectors: Insurers. Oil and gas. Coal. Retail.
  • Negative Sectors: Banks. Gold miners.REITs
  • ASX 200 Hi 8393 Lo 8262.
  • Big Bank Basket: Falls to $295.61(-1.0%)
  • All-Tech Index: Down 0.1%
  • Gold: Falls to $6260
  • Bitcoin: Falls to $68357
  • 10-year yields: Jump to 5.11%
  • AUD: Falls to 69.80c

MARKET MOVERS

  • DTR +8.8% kicks again.
  • TPW +3.9% bargain hunters.
  • AUB +5.4% broker update.
  • MAF +4.0% broker research.
  • KAR +% new CFO and CTOO appointed.
  • ZIP +4.5% buyback update.
  • SRL +3.5% volatility continues.
  • CRN +7.3% coal price gains.
  • SGQ +4.6% chased by the dragon higher.
  • EOS -9.7% becoming a substantial shareholder.
  • PGF -5.7% NTA 218c after tax.
  • KCN -16.3% ALK -14.0% SX2 -15.6% gold price move.
  • LRV -7.9% antimony drop.
  • AT4 -19.0% response to ASX query.
  • Speculative Stock of the Day: ATX +109% positive trial results for pancreatic cancer.

ECONOMIC AND OTHER NEWS

  • Business credit demand in Australia showed minimal growth in February, rising just 0.9% year-on-year, according to Equifax, with year-to-date figures flat compared to 2025.
  • Business loans grew 3.5%, and asset finance increased 2.3%, while corporate insolvencies rose 3% and business-related personal insolvencies climbed 16% year-on-year.
  • UBS economist has lifted Australia’s inflation outlook, forecasting the headline consumer price index to peak at about 5.2% in the June quarter.
  • Commonwealth Bank Australian agricultural economist Dennis Voznesenski says conditions for Australian cattle markets remain supportive in 2026.
  • Chinese Pig prices hit 15-Year low as war costs worsen margins.
  • Poste Italiane launches €10.8bn bid for Telecom Italia.
  • Liberal premier and populist rival are neck-and-neck in Slovenian election.

And finally…..

I burnt my Hawaiian pizza today. I should have cooked it on aloha temperature.

Clarence

XXXX

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