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ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

ASX 200^BSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

ASX Preview: Australian Shares Set to Fall Amid RBA Hike Bets; National Australia Bank Posts Lower Fiscal H1 Cash Earnings, Higher Net Operating Income

Australian shares are poised to fall on Monday as investors brace for a likely Reserve Bank of Australia (RBA) rate hike to 4.35% on Tuesday, with persistent inflation pressures and rising fuel costs linked to Middle East supply disruptions keeping the central bank on a hawkish path even as global peers hold steady.On May 1, the S&P 500 and the Nasdaq Composite rose 0.3% and 0.9%, respectively, while the Dow Jones Industrial Average fell 0.3%.In the macroeconomy, Australia's building approvals and ANZ-Indeed job ads reports are due at 11:30 am Sydney time.In corporate news, National Australia Bank (ASX:NAB) reported Monday fiscal first-half cash earnings of AU$0.861 per share on net operating income of AU$10.87 billion, compared with cash earnings of AU$1.145 on net operating income of AU$10.27 billion a year earlier.Viva Energy Group (ASX:VEA) expected repairs needed to restart the residue catalytic cracking unit at its fire-hit Geelong Refinery to take about six weeks before the unit returns to operation in June.Australia's benchmark index rose 0.7% or 64 points to close at 8,729.80 on May 1.

ASX 200ASX:NABASX:VEA
International

Australia's Index of Commodity Prices Falls 0.5% in April

The Australian Index of Commodity Prices declined 0.5% in April when measured in special drawing rights terms on a monthly average basis, after a 3.5% increase in March, the Reserve Bank of Australia reported Friday.The non-rural and rural subindices fell in the month, while the base metals subindex increased.In Australian dollar terms, the index was down by 0.8% in the month and increased by 4.6% over the past year, per the report.The index soared 15.7% in special drawing rights terms when compared with the previous year. Higher rural commodity prices and base metal prices more than offset falls in the prices of liquefied natural gas and alumina.Using spot prices for the bulk commodities index, the index slid by 0.6% in special drawing rights terms in April, but is still 16.9% higher over the past year.

ASX 200
Asia

Australian Shares Swing to Green; ANZ Group Holdings Posts Higher Fiscal H1 Cash Earnings, Operating Income

Australian shares swung back to positive territory on Friday's close as equities received a boost from earnings season in the US and oil prices eased.The S&P/ASX 200 Index rose 0.74%, or 64 points, to close at 8,729.80.Brent crude oil futures were trading over $111 per barrel. The Strait of Hormuz remained closed, and Iran said it would respond with "long and painful strikes" on US positions if the US renewed attacks.Strong corporate earnings lead to a rally ​in tech stocks on Wall Street. The US gross domestic ​product (GDP) increased at a 2% annualized rate last quarter, compared with a 0.5% pace in the fourth quarter, the Commerce Department's Bureau of Economic Analysis said.On the domestic front, Australia's producer prices, excluding exports, increased 0.4% in the March quarter, following a 0.8% rise in the December 2025 quarter, according to data from the Australian Bureau of Statistics.Australia's manufacturing sector returned to expansion in April, though the improvement was outweighed by major supply-chain disruptions and a sharp rise in costs linked to fuel and freight pressures arising from the Middle East conflict, according to a survey by S&P Global.The headline seasonally adjusted S&P Global Australia Manufacturing Purchasing Manager's Index (PMI) rose to 51.3 in April from 49.8 in March.Australia's home value index edged 0.3% higher in April, registering its slowest pace of growth since January 2025 amid declines in Sydney and Melbourne, according to figures from Cotality.In company news, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) reported fiscal first-half cash earnings of AU$1.242 per share, up from AU$1.17 a year earlier. Operating income for the six months ended March 31 was AU$11.2 billion, compared with about AU$11 billion a year earlier. Its shares fell 2% at market close.Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier. The increase was driven by a 4% growth in the supermarket segment's sales revenue to AU$9.78 billion. Its shares closed up 3%.Lastly, Qantas Airways (ASX:QAN) and its Jetstar unit are set to extend previously disclosed schedule changes across their international and domestic network into the first quarter of fiscal year 2027, aiming to mitigate the impact of significantly higher fuel prices due to the Middle East conflict. Its shares closed up 1%.

ASX 200ASX:ANZASX:COLASX:QANNZE:ANZ
International

Market Chatter: Economists Expect Australia's Central Bank to Raise Cash Rate by 25 Basis Points in May, Reuters Poll Suggests

The Reserve Bank of Australia is expected to increase its cash rate to 4.35% at its May 5 policy meeting, which would mark the third consecutive hike of 25 basis points, according to a Reuters poll of economists published Friday.More than a third of the economists surveyed now expect the rate to hit at least 4.6% within the year, compared with none in a survey conducted in March, Reuters reported.The central bank started raising borrowing costs in early February after inflation stayed above its 2% to 3% ​target range since the middle of 2025.If it increases the rate again on May 5, the move would fully reverse rate cuts made last year, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX 200
International

Australia's Producer Prices Rise in March Quarter

Australia's producer prices, excluding exports, increased 0.4% in the March quarter, following a 0.8% rise in the December 2025 quarter, according to data from the Australian Bureau of Statistics published Friday.The main drivers of quarterly growth were property operators, up 1% amid strong demand and rising residential rents; petroleum refining and petroleum fuel manufacturing, up over 10% due to higher oil prices; and tertiary education services, which rose 2.2% due to annual fee adjustments, the report said.Selected producer price indexes rose across key sectors, including a 2.1% increase in manufacturing driven by non-ferrous metals, a 1% rise in construction driven by house building, and an increase in education and training services due to higher export fees in higher education.On an annual basis, final demand growth rose 3% in the year to the March quarter, down from a 3.7% increase a year earlier.

ASX 200
Asia

ASX Midday Sector Update: Materials Stocks Lead Broad Market Gains

Materials stocks were leading gainers in midday trading on Friday, with a rise of 2.4%, as all other sectors were also in the green following a strong rally in the US and a decline in the price of Brent crude.Sector heavyweights BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) both advanced around 3%.EQ Resources (ASX:EQR) fell nearly 9% after saying it will not proceed with a proposed acquisition of Tungsten Metals Group following a review of strategic priorities.

ASX 200ASX:BHPASX:EQRASX:RIO
International

Australia's Manufacturing Sector Returns to Growth in April Despite Supply-Chain Disruptions

Australia's manufacturing sector returned to expansion in April, though the improvement was outweighed by major supply-chain disruptions and a sharp rise in costs linked to fuel and freight pressures arising from the Middle East conflict, according to a survey by S&P Global published Friday.The headline seasonally adjusted S&P Global Australia Manufacturing Purchasing Manager's Index (PMI) rose to 51.3 in April from 49.8 in March, above the 50-point mark separating contraction and expansion.The headline PMI was mainly driven by longer supplier delivery times and higher stocks of purchases, while new orders, output, and employment remained in negative territory.The supply chain disruption in April was largely driven by the Middle East conflict and international freight delays, with fuel shortages and rising fuel costs pushing input prices higher and resulting in the fastest inflation since March 2022, according to the report.Rising input costs and war-related uncertainty pushed output price inflation to a decade high and led to a third straight monthly decline in manufacturing production.New orders kept falling, driven partly by weaker foreign demand, while manufacturers still raised purchasing activity and input stocks in April, likely to build safety buffers against future price increases and supply-chain delays despite lower output needs, per the report.Employment declined for the second consecutive month due to weaker new orders, with firms not replacing departing staff and cutting working hours, while backlogs of work and finished goods inventories also continued to decrease.Business confidence fell for a third straight month to its lowest since July 2024 amid the Middle East conflict, inflation, and cost-of-living pressures, though hopes of post-conflict demand recovery supported year-ahead production optimism, the report added.

ASX 200
Asia

ASX Preview: Australian Shares Set to Rise as Oil Prices Ease; ANZ Group Holdings Posts Higher Fiscal H1 Cash Earnings, Operating Income

Australian shares are poised to rise on Friday as oil prices eased from earlier four-year highs amid volatile trading driven by escalating US-Iran tensions and fears over potential disruptions to Middle East crude supplies.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1%, 0.9%, and 1.6%, respectively.In the macroeconomy, the Australian manufacturing sector returned to modest growth in April, though the improvement masked growing strain from Middle East-driven supply chain disruptions, surging fuel costs, and continued weakness in orders and production, according to a survey by S&P Global.Australia's home value index edged 0.3% higher in April, registering its slowest pace of growth since January 2025 amid declines in Sydney and Melbourne, according to figures from Cotality.Australia's producer price indexes report is due at 11:30 am Sydney time.In corporate news, ANZ Group Holdings (ASX:ANZ) reported Friday fiscal first-half cash earnings of AU$1.242 per share on operating income of AU$11.2 billion, compared with cash earnings of AU$1.17 on operating income of AU$11 billion a year earlier.ResMed (ASX:RMD) reported Friday fiscal third-quarter non-GAAP earnings of $2.86 per share on revenue of $1.43 billion, compared with earnings of $2.37 on revenue of $1.29 billion a year earlier.Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier.Australia's benchmark index fell 0.2% or 21.2 points to close at 8,665.80 on Thursday.

ASX 200ASX:ANZASX:COLASX:RMD
International

Australia's April Home Value Index Posts Slowest Pace of Growth Since January 2025, Cotality Says

Australia's home value index edged 0.3% higher in April, registering its slowest pace of growth since January 2025 amid declines in Sydney and Melbourne, according to figures from Cotality released Friday.All capital cities in Australia recorded a deceleration in growth during April, with home values declining 0.6% in Sydney and Melbourne. Sydney values are now 1% below their November 2025 peak, while Melbourne values are 2.3% below a high seen in March 2022.Brisbane, Adelaide, and Darwin also saw a slowdown in growth, although values still rose by more than 1% month over month in each city.Softer housing conditions came alongside a slowdown in buyer demand, and an imbalance between demand and supply is also evident in auction clearance rates, which have stayed below 55% since the last week of March."The housing market was losing momentum from late last year as affordability and serviceability constraints weighed on demand," said Cotality Research Director Tim Lawless. "Now we have the additional downside pressure of higher interest rates, sentiment has fallen off a cliff, and rising inflation is set to drive the cost of debt even higher."

ASX 200
Asia

Australian Shares Extend Losing Streak; Woolworths Group Reports Higher Fiscal Q3 Sales

Australian shares extended their losing streak for the eighth consecutive day on Thursday's close as the US continued its naval blockade of Iranian ports.The S&P/ASX 200 Index retreated 0.24%, or by 21.20 points, to close at 8,665.80.Brent crude oil futures jumped 5.2% to $124.15 per barrel. The Strait of Hormuz remained closed, as US President Donald Trump is reported to be considering military options as the deadlock in negotiations with Iran continues, according to an Axios report as cited by Reuters.On the domestic front, Australia's export prices rose 0.5% in the March quarter after a 3.2% increase in the December 2025 quarter, while import prices rose 0.1% after a 0.9% increase in the previous quarter, data from the Australian Bureau of Statistics showed.Australia's total credit rose 0.7% month on month in March, following a 0.6% increase in February, data from the Reserve Bank of Australia showed.Small businesses in Australia had a firm start to the year, with the March quarter recording a 7.2% jump in sales, though higher fuel prices amid the Middle East conflict present a key risk, Xero said. Sales, jobs, and wages all grew during the quarter, nearly reaching their historical average growth rates.In company news, Woolworths Group (ASX:WOW) reported fiscal third-quarter sales of about AU$18.1 billion, up 4.5% from AU$17.31 billion in the year-ago period. Reported fiscal 2026 Australian food earnings before interest and taxes growth is still expected to be in the mid to high single-digit range, but no longer at the upper end of the range. Its shares fell 7% at market close.Mineral Resources' (ASX:MIN) fiscal third-quarter production volume reached 80 million wet metric tonnes (wmt), up from 62 million wmt a year earlier. Total iron ore production for the three months ended March 31 across Onslow Iron and the Pilbara Hub was 10.3 million wmt, with shipments totaling 9.3 million wmt. Its shares closed up 2%.Lastly, ASX (ASX:ASX) appointed Darren Yip, group executive of markets and listings, as interim chief executive, succeeding Helen Lofthouse, effective May 29. Its shares also closed up 2%.

ASX 200ASX:ASXASX:MINASX:WOW
Asia

ASX Midday Sector Update: Information Technology Stocks Gain, Woolworths Weighs on Consumer Staples

Information technology stocks advanced nearly 2% to lead gainers in midday trading Thursday, after a number of US-listed peers overnight reported strong quarterly results that beat analyst expectations.WiseTech Global (ASX:WTC) rose almost 5%, and Xero (ASX:XRO) gained 2%.On the flip side, consumer staples stocks shed 4%, weighed down by a decline in Woolworths Group (ASX:WOW), the largest company in the sector by market capitalization.Shares of Woolworths slid more than 6% after the supermarket chain operator said fiscal 2026 Australian food earnings before interest and taxes growth is no longer expected to be at the upper end of its guidance range, as higher fuel costs and secondary effects from the Middle East conflict are likely to have an increasing inflationary impact through the remainder of the year.

ASX 200ASX:WOWASX:WTCASX:XRO
International

Australia's Monthly Total Credit Rises in March

Australia's total credit rose 0.7% month on month in March, following a 0.6% increase in February, data from the Reserve Bank of Australia showed Thursday.Housing credit rose by 0.6%, the same rate as the previous month, while personal credit rose 0.6%, following a 0.4% increase.Business credit rose 0.8%, matching the growth rate recorded in the previous month.Broad money rose 0.7%, following a 0.8% increase in the previous month.Total credit jumped 8.1% in the year ended March, compared with the 6.5% increase in the year ended March 2025.

ASX 200
International

Australia's Export, Import Prices Rise in the March Quarter

Australia's export prices rose 0.5% in the March quarter after a 3.2% increase in the December 2025 quarter, while import prices rose 0.1% after a 0.9% increase in the previous quarter, data from the Australian Bureau of Statistics showed Thursday.Non-monetary gold, coal, coke and briquettes, and crude fertilizers were the main contributors to the increase in export prices, rising by around 11%, 5.3%, and 58%, respectively.The main factors offsetting the growth in export prices were metalliferous ores and metal scrap, which decreased 5%, and natural and manufactured gas, which fell 8.2%.The main contributors to the rise in import prices were petroleum and related products, non-monetary gold, and non-ferrous metals, rising by about 9.8%, 11%, and 17%, respectively."The closure of the Strait of Hormuz created a surge in oil prices in the latter part of [the] March quarter," said Sue-Ellen Luke, the bureau's head of prices statistics.The growth in import prices was partly offset by office and automatic data processing machines, which decreased 5.1%, and road vehicles, which fell 1.1%.Throughout the year, export prices fell 1.9%, while import prices declined 0.3%.

ASX 200
Asia

ASX Preview: Australian Shares Set to Fall as Oil Surges on Supply Fears; Capstone Copper Posts Higher Q1 Adjusted Earnings, Revenue

Australian shares are poised to fall on Thursday as oil prices surged more than 6% overnight on renewed Middle East supply concerns and a larger-than-expected draw in US crude inventories.Investors also weighed the United Arab Emirates' decision to exit the Organization of the Petroleum Exporting Countries, adding longer-term uncertainty to global supply dynamics and inflation pressures.Overnight, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 and the Nasdaq Composite closed flat.In the macroeconomy, Small businesses in Australia had a firm start to the year, with the March quarter recording a 7.2% jump in sales. However, higher fuel prices amid the conflict in the Middle East pose a key risk, Xero said Thursday.Australia's international trade price indexes report is due at 11:30 am Sydney time.In corporate news, Capstone Copper (ASX:CSC) reported Thursday first-quarter adjusted earnings of $0.12 per share on revenue of $652.5 million, compared with adjusted earnings of $0.01 on revenue of $533.3 million a year earlier.Mineral Resources' (ASX:MIN) fiscal third-quarter production volume reached 80 million wet metric tonnes (wmt), up from 62 million wmt a year earlier.Woolworths Group (ASX:WOW) reported fiscal third-quarter sales of about AU$18.1 billion, up 4.5% from AU$17.31 billion in the year-ago period.Australia's benchmark index fell 0.3% or 23.7 points to close at 8,687 on Wednesday.

ASX 200ASX:CSCASX:MINASX:WOW
International

Australian Small Businesses Off to Solid Start to the Year, Says Xero

Small businesses in Australia had a firm start to the year, with the March quarter recording a 7.2% jump in sales, though higher fuel prices amid the Middle East conflict present a key risk, Xero said Thursday.According to Xero Small Business Insights data, the quarter showed strong results, especially in the last two months despite the central bank raising the cash rate twice, which could have hurt the sales. Sales, jobs and wages all grew during the quarter, nearly reaching their historical average growth rates.The firm said price increases driven by surging fuel costs are so far not widespread among small businesses, and sales growth in March was possibly due to an uptick in physical sales rather than pricing.This is reflected in a 13.2% climb in transport and logistics industry sales, a sector most exposed to fuel prices."The longer fuel prices remain high the greater the risk that the Reserve Bank of Australia will respond with more increases in the cash rate to combat the widening inflation shock," the firm said.Xero added that current fuel stocks in the fuel import-dependent country are "sufficient" and advised small businesses to buy fuel as normal.

ASX 200
Asia

Australia Inflation Heats Up in March, Pressuring Central Bank

Jolted by fuel and housing costs, Australia's consumer price index (CPI) rose further above central bank targets in March, possibly setting the stage for more rate hikes from the Reserve Bank of Australia (RBA).The nation's CPI rose 4.6% on year in March, a jump up from the 3.7% rate logged in February, and striking the highest level since September of 2023, reported the Australian Bureau of Statistics (ABS) on Wednesday.Australia's CPI rose 1.1% in March from February alone, added the ABS.The RBA, which has a 2% to 3% annual inflation target band on the CPI, has already raised rates twice this year to cool off inflation.Australian consumers faced housing costs up 6.5% on year in March, while transport bills rose 8.9% on year, due in large part to a 32.8% surge in automotive fuel prices, said ABS.However, another metric of consumer prices, the trimmed mean annual inflation rate, was unchanged at 3.3% in the 12 months to March, said the ABS. In general, the trimmed mean rate removes outliers on the low and high end of price movements.The RBA is slated to meet next week to again ponder monetary policy.As of Tuesday, even before the ABS inflation report, the RBA Rate Tracker estimated the odds at 76% that the central bank would raise rates to 4.35% from 4.10%.

ASX 200
Asia

Australian Shares Again Fall; G8 Education to Suspend Operation of Around 40 Centers

Australian shares continued to retreat for the seventh consecutive day at Wednesday's close as markets reacted to the United Arab Emirates' decision to leave the Organisation of the Petroleum Exporting Countries (OPEC).The S&P/ASX 200 Index fell 0.27%, or by 23.70 points, to close at 8,687.Brent crude oil futures for June were trading around $111.25 a barrel after the UAE decided to exit OPEC and OPEC+, effective May 1.Meanwhile, the Strait of Hormuz remained closed, as US President Donald Trump is said to be unhappy with Iran's latest proposal.Further, President ​Trump told aides to be ready for an extended Iran blockade, the Wall Street Journal reported, citing US officials.On the domestic front, Australia's consumer price index (CPI) rose 4.6% in the 12 months to March, up from a 3.7% increase in the year to February, according to data from the Australian Bureau of Statistics.Trimmed mean inflation was unchanged at 3.3% in the 12 months to March compared with February.In company news, G8 Education (ASX:GEM) plans to suspend the operation of around 40 of its centers as a result of an assessment of its network. It will transition customers to one of the nearby centers and, where possible, redeploy team members. The firm will then consider longer-term options for those centers, including lease surrender, divestment, or other alternatives. Its shares plunged 29% at market close, earlier reaching a 16-year low.Woodside Energy Group's (ASX:WDS) operating revenue fell to $3.26 billion in the first quarter ended March 31 from $3.32 billion a year earlier. Total production in the March quarter fell year on year to 45.2 million barrels of oil equivalent (MMBoe) from 49.1 MMBoe. Its shares closed up 2%.Lastly, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) agreed to acquire Worldline's 51% stake in their joint venture ANZ Worldline for an enterprise value of AU$89 million as part of the bank's broader 2030 strategy to enhance transaction banking capabilities.

ASX 200ASX:ANZASX:GEMASX:WDSNZE:ANZ
International

RBA Expected to Raise Policy Rate by 25 Basis Points at May Meeting, ANZ Says

The Australian central bank is likely to remain cautious around the inflation outlook, with annual growth in underlying inflation at 3.5% as well as the expected impact of higher fuel and other costs, and it is forecast to increase interest rates by 25 basis points at its May meeting, ANZ said in a Wednesday report.Australia's consumer price index increased 1.4% in the March quarter compared with the previous quarter, while the trimmed mean rose by 0.8%.The first-quarter trimmed mean was softer than the Reserve Bank of Australia's (RBA) likely forecast of around 0.9% from February. Some of the momentum in underlying inflation evident in late 2025 appears to be moderating, per the report.The three-month annualized rate of trimmed-mean inflation was just above the RBA's target band at 3.2%, suggesting that some of the lift in inflation in the second half of 2025 was related to temporary factors.Automotive fuel prices lifted 33% month-over-month in March, the strongest monthly rise since the series began in 2017. ANZ expects headline inflation to peak around 5% year-over-year in the second quarter.

ASX 200
Asia

ASX Midday Sector Update: Utilities Stocks Gain, Materials Struggle

Utilities stocks were leading gainers in midday trading Wednesday with a rise of 1.7% after the United Arab Emirates said it would quit the Organization of the Petroleum Exporting Countries, adding to energy supply concerns amid ongoing tensions between the US and Iran.Shares of Origin Energy (ASX:ORG) ticked nearly 3% higher to recover from losses in the previous trading session.On the flip side, materials stocks were leading decliners with a fall of 0.8%.Westgold Resources (ASX:WGX) shed more than 2% after reporting group gold production of 93,145 ounces for the fiscal third quarter. The group's all-in sustaining cost for the quarter was AU$3,338 per ounce, compared with AU$2,829 per ounce a year earlier.

ASX 200ASX:ORGASX:WGX

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