Welcome to the end of the first day of Week 30 of 2025. It was a red day for the ASX wholemeal after Friday saw the bourse climb into the 8,700s based on nothing but vibes.
Profit taking was the name of the game, especially after Wall Street ended flat on the Friday session US time, suggesting there was no more real impetus for the ASX200 to climb any higher, given that we’re perpetually tied to US sentiment.
But that’s not any real cause for concern – the big take is that the ASX dipped back down to the high 8,600s and fell no further. A jump to the 8,700s was, by all counts, unexpected on Friday.
Heading into the Monday US session, US futures have been tracking upward this afternoon (Australia time) as the market decides that Japan’s recent election shakeup probably doesn’t threaten the safe haven economy (as far as forex is concerned).
We also get more earnings this week from big US players, and while results are mixed, the general mood in the room is that things are all A-okay. So far, no vast impacts from the tariffs, but they haven’t even really kicked in yet.
One to watch.
Companies in the green on Monday included:
Syrah Resources was up around 22% at close after it benefitted from momentum borne from Trump’s 90%+ tariffs on Chinese graphite imports last week; traders are betting US customers might come to Australia for supply.
Afterpay owner Block surged over 11% meanwhile, after a strong US session (the company’s also listed on Wall Street) following its technical inclusion in the S&P500 after Chevron swallowed up another listee.
Finally, Amaero was in the green, another defence stock on a tear as it won a contract over $1M to send off one of its 3D printing hardware units, currently of interest to the US Navy.
Companies in the red on Monday included:
Brightstar Resources was down more than -10% at close dipping below 50cps after an announcement regarding a consolidation with Aurumin was digested by the market.
Elsewhere, Insignia Financial fell on news that its potential takeover by CC Capital is starting to look like a false start.
Finally, CBA sunk to $177.xx/sh on Monday as banks sold off following the ASX’S fresh record highs on Friday, which for all intents and purposes, were based largely on vibes.