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ASX Preview: Australian Shares to Fall on Higher US Yields, Oil Surge; Premier Investments Fiscal 2026 Earnings, Revenue Down

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Australian shares are poised to fall on Thursday, tracking a global risk-off mood as stronger US economic data and renewed bets on further US Federal Reserve rate hikes pushed Treasury yields higher and raised concerns over tighter financial conditions.

A jump of nearly 4% in oil prices, after Iranian President Masoud Pezeshkian vowed Tehran would "never surrender" to the US, added to concerns over prolonged tensions and potential supply disruptions.

Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.8%, 1.1%, and 0.7%, respectively.

In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.

In corporate news, Premier Investments (ASX:PMV) reported fiscal 2026 earnings of AU$0.8047 per share on revenue of AU$808 million, compared with earnings of AU$2.1123 on revenue of AU$831.3 million a year earlier.

Washington H. Soul Pattinson (ASX:SOL) reported fiscal 2026 earnings of AU$5.8763 per share on revenue of AU$1.87 billion, compared with earnings of AU$1.1113 on revenue of AU$955 million a year earlier.

Australia's benchmark index rose 0.1%, or 7.5 points, to close at 8,765.30 on Wednesday.

What else is happening in Asia?

Asia

Shenzhen Megmeet Electrical Buys Out 46.3% Stake in Subsidiary

Shenzhen Megmeet Electrical (SHE:002851) will purchase the remaining 46.3% stake it does not own in subsidiary Shenzhen Megmeet Welding Technology for 663.6 million yuan, according to a Wednesday filing with the Shenzhen bourse.Following the sale of the stakes of 46 shareholders, the listed company will fully own the subsidiary.

SHE:002851
Asia

Zhejiang Wanliyang Appoints CFO

Zhejiang Wanliyang (SHE:002434) appointed Shi Yuqiong as chief financial officer after Zhang Leigang resigned from the top financial role due to a change in work responsibilities, according to a Shenzhen bourse filing on Wednesday.Shi's appointment came into effect on Tuesday. The term runs through the end of the current board's tenure.Qian Shouguang was also appointed head of the internal audit department after the previous department head resigned, the filing said.Shares of the Chinese auto transmission systems manufacturer fell over 2% in recent trade.

SHE:002434
Asia

Carimin Petroleum Raises Stake in Sealink International to 25.3%

Carimin Petroleum (KLSE:CARIMIN) acquired a 5.8% stake in Sealink International (KLSE:SEALINK) for 9.9 million ringgit in cash, according to a Tuesday filing with Bursa Malaysia.The acquisition involved 29.1 million shares bought at 0.34 ringgit each, between Sept. 18 and Sept. 22.Following the acquisition, Carimin's stake in Sealink rose to 25.3% from 19.5%, making Sealink an associate company.Carimin Petroleum said the acquisition was part of its ongoing investment strategy.The deal was funded through internally generated funds and does not require shareholder or regulatory approval, the filing said.

KLSE:CARIMINKLSE:SEALINK