The ASX 200 finished the week up 40 points to 8628 for a 70-odd point loss for the week. Banks were firm, CBA up 1.8% and WBC up 1.3% as the Big Bank Basket rose to $274.68(+1.3%). MQG rose 1.5% despite a $35m fine for reporting short sellers. Insurers better. Financials generally better too. ZIP up 3.3% and CGF rising 3.1%. REITs gained slightly as CHC jumped 2.3% and GMG up 0.5%. Tech was a winner today, something we haven’t seen for a while. WTC up 3.2% and XRO rising 2.3%. The All -Tech Index rose 1.5%. Industrials generally were firm, JBH up 2.3%, SGH rising 0.9% and SIG having a good day on a broker upgrade.

Resources were mixed, BHP dropped 1.2% with FMG under pressure off 3.2% despite a good week for iron ore. Gold miners found their feet with GMD up 1.6% and VAU rising 1.3%. Base metals stocks also in demand, MLX up 4.4% and DVP rising 4.1%. WDS unchanged and STO off 2.1% with uranium stocks bouncing off lows. LOT up 18.8% and PDN up 9.3%. Even BOE rose 11.4%.

In corporate news, CTD remain suspended and announced a skinny update. 4DX soared 21.5% on a new US contract, WTC rallied after White was cleared of wrong doing by the board. ABB fell % after warning the competition regulator’s new voice interconnection rates would cut earnings.

In economic news, nothing locally, the BoJ raised rates to the highest in 30 years by 25bps. No surprise as inflation stays elevated.

Japan raises rates as expected. Japan up 1.1% HK up 0.6% and China up 0.5%

US futures – DJ down 84 Nasdaq up 25

10-year yields steady at 4.76%.

HIGHLIGHTS

• Winners: 4DX, BMN, EOS, WBT, SRL, BRE, DRO, DTR, SLX
• Losers: NWL, PMV, FPR, RWC, NST, FMG
• Positive Sectors:  Banks. Tech. Gold miners. Uranium. Base metals.
• Negative Sectors: Iron ore. Supermarkets. Old ‘Skool’ platforms.
• ASX 200 Hi 8648 Lo 8614 – Narrow range.
• Big Bank Basket: Rips to $274.68 (+1.3%)
• All-Tech Index: Up 1.5%
• Gold: Eases to $6540
• Bitcoin: Rallies to US$87081
• AUD: Steady at 66.05c.
• Asian markets: Japan raises rates as expected. Japan up 0.9% HK up 0.7% and China up 0.6%
• 10-year yields steady at 4.76%.

MARKET MOVERS

• 4DX +21.5% new US contract.
• EOS +16.8% another significant order.
• WBT +16.3% chip stocks rally.
• DTR +10.8% CEO buys 1m shares.
• SLX +10.0% uranium bounces.
• DRO +11.7% bounce continues.
• CXL +26.9% US water treatment contract.
• PMT +16.7% LW article.
• VUL +3.7% nice bounce.
• LOT +18.8% uranium bounce.
• NWL -6.5% brokers non-plussed.
• ACL -3.2% buy back update.
• DMP -2.5% Sustainability report.
• FMG -3.2% LW article.
• PTX -13.3% unquoted securities.
• PGC -8.9% fall continues.
• NVA -13.1% announces pricing of NASDAQ offering.
• Speculative Stock of the Day: DUB +35.7% Ok volume on agreement with leading telco.

ECONOMIC AND OTHER NEWS

• Japan’s central bank on Friday raised its policy rate by 25bps to a three-decade high, marching ahead with its policy normalisation, as inflation has stayed above its target levels for nearly four years now.
• Japanese Inflation has run above the BOJ’s 2% target for 44 straight months, with the data released earlier in the day showing consumer price growth at 2.9% in November.
• European Union countries have agreed to allocate $105.5 billion in aid to Ukraine for 2026 and 2027.
• The Trump administration has launched a review that could result in the first shipments to China of Nvidia’s second-most powerful AI chips, five sources said, making good on his pledge to allow the controversial sales.
• TikTok signs agreement to create new U.S. joint venture, memo says.
• China boosts AI chip output by upgrading older ASML machines.
• Nike shares fall sharply as weak China sales dent faith in turnaround.
• Chinese coking coal futures headed for their biggest weekly gain since August. Up more than 8%. Iron ore was on track for its best week since October.

And finally….

Clarence

XXXX