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Hello and welcome to The ASX Today, I’m Seja Al Zaidi. Turns out today’s inflation news wasn’t quite the market-moving event investors were expecting. The latest CPI figures landed somewhere in the middle, with headline inflation cooling more than forecast but the RBA’s preferred trimmed mean coming in hotter than expected. The result? Markets shrugged, bought tech, and sent the ASX higher.
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The ASX 200 climbed around 0.3 per cent by lunchtime, with nine of the eleven sectors trading in positive territory. Technology staged a huge comeback after yesterday’s heavy selling. Xero jumped almost 8 per cent after Citi pointed to confidence in its U.K. pricing strategy, while WiseTech surged more than 14 per cent as investors rushed back into the stock after a brutal two-session sell-off.
Healthcare also had a strong day, with CSL extending its run alongside gains for ResMed and Ramsay Healthcare. The banks were mostly stronger, too. Commonwealth Bank, Westpac, and NAB all added around 1 per cent today.
Not everyone joined the party. Materials were the weakest sector as gold slipped on expectations U.S. interest rates could stay higher for longer. Ora Banda Mining, Resolute Mining, and Newmont all lost ground.
Energy also softened as Brent crude slipped below US$77 a barrel on continued progress in US-Iran peace talks. Woodside and Karoon Energy both traded lower. Looking at company news, Baby Bunting tumbled 12 per cent after cutting CY26 profit guidance, after a weaker-than-expected fourth quarter.
Tasmea bucked the trend, rising almost 5 per cent after unveiling plans to acquire energy services provider JPS Group in a deal worth up to $75 million while reaffirming its earnings outlook. Atlas Arteria edged lower after IFM Investors extended its takeover offer by another two weeks.
And finally, KMD slipped 3 per cent after announcing a one-for-25 share consolidation that will dramatically reduce the share count on issue.
That’s The ASX Today, I’m Seja Al Zaidi. I’ll see you tomorrow.
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