Markets Today (21 November 2025) at Open: Key Trends from Wall Street to ASX

1. ASX Outlook-

The ASX 200 (XJO) is down sharply as of now, trading at 8,419, down 133.7 points or down 1.56%. This means the overall Australian stock market opened significantly lower. A drop of more than 1.5% is considered a large move for an index.

2. Overnight US Markets:

All the major US indices dropped:

1. S&P 500: –1.56%
2. Dow Jones: –0.84%
3. NASDAQ Composite: –2.15% (tech stocks hit the hardest)
4. Russell 2000: –1.72%

A fall in the NASDAQ over 2% usually signals investors moving away from high-growth tech companies due to concerns like interest rates, economic slowdown, earnings worries, or inflation fears.

These declines created pressure on the ASX at the open.

3. US Sector Performance:

Winners:

Consumer Staples +1.11%

Losers:

Consumer Discretionary -1.73% Information Technology -2.66%

4. Commodities: A major driver for the ASX

1. Gold: +0.03% (flat to slightly positive)
2. Copper: –1.88% (a notable fall — affects miners)
3. WTI Oil: –0.91% (down — affects energy sector)

This mixed picture tends to drag sectors like mining and energy, contributing to the ASX drop.

5. What to Watch Today (ASX Focus)

It’s a busy day of AGMs (Annual General Meetings)

Companies holding AGMs include:

WiseTech Global, Sims Limited, Tribeca Natural Resources, Coventry Group, Macquarie Technology, Lovisa

AGMs are important because:

• Management updates investors
• Companies may adjust forecasts
• Shareholder voting results can move prices.

6. Broker Move:

???? Charter Hall Group (CHC)

• Upgraded to Outperform (from Hold)
• Target price lifted to $25.94 (from $23.67)
• Brokerage: CLSA

???? Ampol (ALD)

• Upgraded to Outperform (from Neutral)
• Target raised to $36 (from $32)
• Brokerage: Macquarie

???? Viva Energy Group (VEA)

• Upgraded to Outperform (from Neutral)
• Target increased to $3.20 (from $2.00)

These upgrades suggest analysts expect better performance ahead for these companies

7. Stocks Trading Ex-Dividend:

Today’s ex-dividend stocks:

• N1 Holdings (N1H) – $0.003
• Orica (ORA) – $0.32

Our take at Kapitales Research:

• The ASX opened sharply lower because global markets fell overnight.
• The US tech sector was hit hard, dragging the NASDAQ down over 2%.
• Commodities like copper and oil fell, hurting mining and energy stocks.
• Many Australian companies have AGMs today, which may influence their share prices.
• Several companies received broker upgrades, which is generally positive.

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