ASX 200 Preview: Global Risk Rally Lifts Sentiment; Gold & Copper Strength Support Resources
Source: Kapitales Research
1. ASX 200 Opens Higher:
The ASX 200 is set to open stronger today after a broad-based global risk rally overnight. As of late morning, the index is trading up 36.40 points or 0.42% at 8,642.90, extending its upward momentum this week.
Gains are being led by HMC Capital Limited and GQG Partners Inc., climbing 8.39% and 6.89% respectively on strong fund flow support. Over the past five days, the index has risen 1.05% and is now 5.93% higher year-to-date. The rally is aligned with firm commodity pricing and strong performance across global markets, particularly in the US and Canada where precious metals surged.
2. Wall Street Higher as Global Risk Rally Broadens
US equities extended their winning streak overnight, with all major indices closing firmly higher:
S&P 500: +0.69%
Dow Jones: +0.67%
Nasdaq: +0.82%
Russell 2000: +1.08%
Market sentiment improved as investors priced in rising odds of a December Fed rate cut, while shrugging off last week’s correction. Strength in Bitcoin, oil, and silver helped fuel a global risk rally across Asia, Europe, and North America.
Sector performance in the US was mostly positive:
Leaders:
Utilities +1.32%
Information Technology +1.27%
Materials +1.21%
Consumer Staples +0.97%
Financials +0.79%
Energy +0.68%
Laggards:
Health Care –0.25%
Communication Services –0.49%
Canada’s TSX surged again, powered by gold and silver strength, putting ASX gold miners firmly in focus today.
3. Sector Performance — ASX
Ten of eleven ASX sectors are higher today, reflecting broad market participation.
Top performers:
Information Technology +2.59%
Health Care +0.87%
A-REITs +0.49%
Telecommunications +0.47%
Consumer Staples +0.25%
Materials +0.23%
Utilities +0.35%
Financials +0.37%
Industrials +0.23%
Lagging:
Energy –0.89%
Tech stocks are outperforming sharply today, reversing recent weakness and supporting overall market breadth.
4. Commodity Watch
Commodities strengthened across the board overnight:
Gold: US$4,162.73/oz (+0.77%)
Copper: US$5.1124/lb (+1.88%)
WTI Oil: US$58.60/bbl (+1.00%)
Gold continues to benefit from safe-haven flows and central bank buying. Copper gained nearly 2% on stronger industrial demand expectations, while oil rose on tightening supply fundamentals.
5. ASX Corporate Highlights
Rio Tinto (RIO): Expected to commence sale process of California boron assets; could raise up to US$2B.
Reece (REH): Launching on-market share buyback up to A$35M.
Bellevue Gold (BGL): Deacon North ore production remains on track for June 2026 quarter.
Beach Energy (BPT): Signals growing interest in Narrabri project.
Broker Moves
WiseTech Global (WTC): Upgraded to Positive from Neutral (E&P); target cut to $94 from $123.
Temple & Webster (TPW): Upgraded to Neutral from Sell (UBS); target cut to $14.80 from $17.70.
Objective Corp (OCL): Upgraded to Accumulate from Hold (Morgans); target to $20 from $22.90.
Harvey Norman (HVN): Downgraded to Neutral from Outperform (Macquarie).
Metallum Ltd (MTM): Initiated at Speculative Buy (Canaccord).
Catapult Sports (CAT): Re-initiated by Morgans; target $6.25.
Ex-Dividend Today
ALS (ALQ) – $0.194
Graincorp (GNC) – $0.24
Infratil (IFT) – $0.059
Amcor (AMC) – $0.198
Technology One (TNE) – $0.30
Webjet (WJL) – $0.02
6. What to Watch Today
Commodity-driven momentum: Gold, copper, and silver strength puts resource names in focus.
Tech rebound: Strong overnight US tech performance is lifting local IT stocks.
RBA expectations: Market direction will depend on shifting expectations around 2025–2026 rate settings.
Australia economic data: Building, private capital & industrial expenditure due at 11:30 AM AEDT.
7.Kapitales Research Take
The ASX 200 is benefiting from a powerful combination of global risk appetite, surging commodities, and broad sector participation. With 10 of 11 sectors trading higher and gold back in strong demand, the backdrop remains constructive. We see the ASX 200 trading between 8,630 and 8,670 today, with Resources, Technology, and Financials likely to drive direction.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au.au.au
Daily Dose of Buy, Sell & Hold recommendations before the market opens.
ASX 200 Preview: Global Risk Rally Lifts Sentiment; Gold & Copper Strength Support Resources
1. ASX 200 Opens Higher:
The ASX 200 is set to open stronger today after a broad-based global risk rally overnight. As of late morning, the index is trading up 36.40 points or 0.42% at 8,642.90, extending its upward momentum this week.
Gains are being led by HMC Capital Limited and GQG Partners Inc., climbing 8.39% and 6.89% respectively on strong fund flow support. Over the past five days, the index has risen 1.05% and is now 5.93% higher year-to-date. The rally is aligned with firm commodity pricing and strong performance across global markets, particularly in the US and Canada where precious metals surged.
2. Wall Street Higher as Global Risk Rally Broadens
US equities extended their winning streak overnight, with all major indices closing firmly higher:
Market sentiment improved as investors priced in rising odds of a December Fed rate cut, while shrugging off last week’s correction. Strength in Bitcoin, oil, and silver helped fuel a global risk rally across Asia, Europe, and North America.
Sector performance in the US was mostly positive:
Leaders:
Laggards:
Canada’s TSX surged again, powered by gold and silver strength, putting ASX gold miners firmly in focus today.
3. Sector Performance — ASX
Ten of eleven ASX sectors are higher today, reflecting broad market participation.
Top performers:
Lagging:
Tech stocks are outperforming sharply today, reversing recent weakness and supporting overall market breadth.
4. Commodity Watch
Commodities strengthened across the board overnight:
Gold continues to benefit from safe-haven flows and central bank buying. Copper gained nearly 2% on stronger industrial demand expectations, while oil rose on tightening supply fundamentals.
5. ASX Corporate Highlights
Broker Moves
Ex-Dividend Today
6. What to Watch Today
Commodity-driven momentum: Gold, copper, and silver strength puts resource names in focus.
Tech rebound: Strong overnight US tech performance is lifting local IT stocks.
Energy softness: Lower sector performance locally despite firmer oil; watch Woodside, Santos.
RBA expectations: Market direction will depend on shifting expectations around 2025–2026 rate settings.
Australia economic data: Building, private capital & industrial expenditure due at 11:30 AM AEDT.
7. Kapitales Research Take
The ASX 200 is benefiting from a powerful combination of global risk appetite, surging commodities, and broad sector participation. With 10 of 11 sectors trading higher and gold back in strong demand, the backdrop remains constructive. We see the ASX 200 trading between 8,630 and 8,670 today, with Resources, Technology, and Financials likely to drive direction.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au.au.au