The ASX 200 gave back 55 points to 9026 (0.6%). US futures turned negative early and banks slid, the Big Bank Basket down to $308.21 (-1.0%). MQG also down 2.4% on concerns with private equity and fund managers. Financials generally were weaker across the board, REITs slumped too, GMG down 3.6% and VCX off 3.1% with industrials sliding. WES down 1.7%, REA off 1.8% with retail falling, JBH off 1.9% and LOV down 1.4%. Tech once again on the nose, WTC falling 5.2%, XRO down 2.9% and the All-Tech Index falling another 3.3%. In healthcare, CSL fell 3.8% on tariff news, and COH off 1.7%.

In resources, BHP rose 1.3% as commodity stocks ran hard on falling USD. Lithium stocks picked up, PLS up 4.6% and MIN rising 5.0%. Gold miners powered ahead, NST up 3.4% and GMD up 5.4% with KCN rallying 8.8%. Oil and gas stocks fell, despite tensions in Iran and US snowstorms. Uranium stocks mixed, PDN down 3.8% and BOE off 3.2%.

In corporate news, KGN rose 5.5% on slightly better number and an increased dividend.  LLC fell after a surprise loss. PRN tumbled 13.8% after softer numbers, ASB fell 11.0% on accounting qualifications despite record order books. IMD delivered a strong result.

In economic news, mortgage demand rose 12.3% to a four-year high.

Asian markets were better, China still closed, but HK up 2.3% and South Korea hitting new records. Japan closed for Emperor’s Birthday.

European markets opening lower on a resumption of the tariff war.

Dow futures down 317 Nasdaq down 238.

HIGHLIGHTS

• Winners: MI6, WIA, REH, STK, FML, CU6, KCN, GYG
• Losers: SYL, MP1, DTL, PRN, ASB, PME, CRN
• Positive Sectors:  Gold miners. Lithium. Copper.
• Negative Sectors: Banks. Retail. REITs. Tech. Industrials.
• ASX 200 Hi 9113 Lo 9011. 100 pt range.
• Big Bank Basket: Falls to $308.21 (-1.0%)
• All-Tech Index: Down 3.2%
• Gold: Rises to $7297
• Bitcoin: Falls to US$64838
• 10-year yields: 4.71%
• AUD: Steady at 70.69c.
• Asian markets – Japan closed. China closed and HK open again
• US Futures up. DJ down 317, Nasdaq down 238.

MARKET MOVERS

• MI6 +26.2% funding deal.
• REH +13.9% results.
• GYG +8.6% broker comments.
• PNR +8.6% on market buy back.
• MEI +7.9% good to see.
• EOS +5.9% good results.
• MLX +5.5% tin bounce.
• MKR +17.4% back.
• NXL +15.1% good result.
• SGQ +17.4% rare earths back in favour.
• ASL +15.8% corporate presentation.
• SYL -23.8% results.
• MP1 -17.5% Broker downgrades.
• DTL -14.4% results underwhelm.
• MFG -10.0% ex dividend.
• NGI -7.3% results.
• GEM -17.4% results woe.
• SLS -3.4% copper-gold intercepts.
• QOR -10.6% tech sell off.
• Speculative Stock of the Day: LSR +44.4% high grade heavy rare earths confirmed at Virgin Mountain.

ECONOMIC AND OTHER NEWS

• Japan and China closed. HK open. South Korea hits new record high.
• Australians ramped up borrowing in the December quarter, with mortgage demand rising 12.3% year-on-year to hit a four-year high. Unsecured credit grew 5.9%, led by a 15.5% jump in credit card enquiries. Gen Z consumers were the main drivers of credit card growth, surging 23.2%, though arrears in this cohort also spiked 28.8%.
• Looking forward to the State of the Union Address. Fact checkers will be busy!
• Trump demands Netflix remove former Obama official from board.
• Hungary to block new EU sanctions against Russia.
• Bitcoin fell more than 5% to below $65,000 after President Donald Trump announced plans to raise global tariffs to 15%.
• The White House launched the Tech Corps to export U.S. AI through the Peace Corps model. The tech corps will implement AI solutions aimed at “real-world grassroots problems” across key sectors. These include agriculture, education, health, and economic development.

And finally

Why did David Hasselhoff start going by just ‘the Hoff’? It was 100% less hassle

I JUST WENT OVER MY INSURANCE POLICY TURNS OUT IF MY BLANKET IS STOLEN IN THE MIDDLE OF THE NIGHT I WON’T BE COVERED

Clarence

XXXXX