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International

Australia's Near-Term Underlying Inflation Revised Higher Due to Oil Price Shock, RBA Assistant Governor Says

Australia's near-term underlying inflation has been revised higher due to the oil price shock, adding roughly 0.4 percentage points to underlying inflation by the March quarter 2027, Sarah Hunter, assistant governor at the Reserve Bank of Australia, said on Tuesday during a speech at the Bloomberg Forum for Investment Managers in Sydney, New South Wales.Inflation was already high before the conflict due to domestic capacity pressures and labor constraints, and the conflict has further disrupted global oil and gas markets, adding a major external shock to the economy.Domestic petrol prices peaked at a 36% increase, while diesel prices rose even higher and remain elevated.Driven by direct fuel costs, headline inflation is now forecast to peak at 4.8% in the June quarter, a significant upward revision from previous February forecasts.With a global oil shock on top of pre-existing domestic capacity constraints, the Monetary Policy Board raised the cash rate to 4.35% in its most recent meeting.

ASX 200
Asia

ASX Preview: Australian Shares Set to Rise as Oil Eases After Trump Delays Iran Strike; Technology One Posts Higher Fiscal H1 Earnings, Revenue

Australian shares are poised to rise on Tuesday after oil prices eased and global markets steadied, as traders reacted to US President Donald Trump's decision to delay a planned strike on Iran amid renewed diplomatic efforts by Gulf allies to secure a nuclear deal.Overnight, the S&P 500 and the Nasdaq Composite fell 0.1% and 0.5% respectively, while the Dow Jones Industrial Average gained 0.3%.In the macroeconomy, the number of Australian capital city homes that went to auction in the week ending May 17 dropped around 11% from the previous week to 1,939 homes, but remained higher than the 1,784 homes a year earlier, Cotality said in a Monday report.The ANZ-Roy Morgan Australian consumer confidence rose 2.3 points to 66.4 in the week of May 11 to May 17, ANZ reported Tuesday.Investors are eyeing the Reserve Bank of Australia's May monetary policy board meeting minutes.In corporate news, Technology One (ASX:TNE) reported Tuesday fiscal first-half earnings of AU$0.2028 per share on revenue of AU$322.7 million, compared with earnings of AU$0.1908 on revenue of AU$291.3 million a year earlier.European Lithium (ASX:EUR) agreed to be acquired by Nasdaq-listed Critical Metals at an implied value of AU$0.58 per share.Australia's benchmark index fell 1.5% or 125.5 points to close at 8,505.30 on Monday.

ASX 200ASX:EURASX:TNE
International

Australian Capital City Homes Auction Volume Drops Week Over Week

The number of Australian capital city homes that went to auction in the week ending May 17 dropped around 11% from the previous week to 1,939 homes, but remained higher than the 1,784 homes a year earlier, Cotality said in a Monday report.The week's preliminary clearance rate rose just over a percentage point to nearly 58%, which was "still a soft result" and the third lowest rate for the year-to-date, according to the report.The preliminary clearance rate in Sydney fell 6 percentage points to more than 49% in the May 17 week, cooling to pandemic-era lows, as auction volumes declined nearly 15% from a week earlier to 616 homes.Melbourne also posted a fall in auctions to 906 homes, down about 15% on the week prior, with the preliminary clearance rate rising 3.7 percentage points to over 61%, Cotality said.Elsewhere, Brisbane recorded a 7.3% weekly increase to 177 auctions hosted, with just over half of them successful, while the volume of homes going to market in Adelaide jumped 41% on the previous week. Tasmania held no auctions.Cotality estimates 2,650 auctions scheduled for this week and expects activity to rise above 3,000 next week.

ASX 200
International

Asia Week Ahead: Central Bank Moves, Inflation Data, Trade Numbers and GDP Reports

For this week in Asia, the economic calendar features a busy slate of macro releases across the region.The week begins with a slew of closely watched indicators from China, including industrial production and unemployment data.On Tuesday, markets turn to Japan's first-quarter GDP estimates and Malaysia's April inflation print.Wednesday features policy decisions in Indonesia and China, along with trade data from Taiwan.Thursday brings Japan's latest trade figures and Australia's closely watched labor market report. On Friday, Japan returns to the spotlight with its April inflation print.Here's what to watch in the week ahead.MONDAY, May 18The week kicked off with a flurry of macro releases from China.Industrial production: A 4.1% year-over-year expansion was recorded in April, sharply slowing from the 5.7% growth in March and way below expectations of a 5.9% rise.Retail sales: Growth decelerated to 0.2% year on year in April, versus 1.7% a month prior.Unemployment: The rate eased to 5.2% in April from 5.4% a month earlier.Meanwhile, prices of new residential properties in China's first-tier cities grew 0.1% month on month in April, decelerating from the 0.2% expansion in March.Chinese investments in real estate development fell 13.7% year on year to 2.397 trillion yuan between January and April.Outside China, Thailand reported that its gross domestic product grew at a faster rate of 2.8% in the first quarter of 2026 from 2.5% in the last three months of 2025.In Singapore, April trade showed a 24.5% year on year rise in non-oil domestic exports, extending the 15.3% increase in the previous month.Elsewhere, New Zealand's services sector showed a modest improvement in April but remained in contraction, with persistent cost pressures and global shipping disruptions continuing to weigh on sentiment, according to BusinessNZ.The BusinessNZ Performance of Services Index rose to 48.9 in April from 46.2 in March. A reading below the 50-point mark points to contraction.TUESDAY, May 19Markets will turn their attention to Japan's preliminary first-quarter GDP.Economists at ING said they expect the economy to grow at a similar rate as the previous quarter's 0.3% on a seasonally adjusted basis. "The war's impact on GDP should be minimal in 1Q26," the bank said in a preview.Meanwhile, Malaysia will disclose its April inflation print, with Trading Economics expecting prices to rise at a faster pace than the 1.7% year over year growth seen in March. According to the data platform, Malaysia's CPI could rise at a rate of 2.7%.In Australia, the Reserve Bank of Australia's meeting minutes will add color to the central bank's recent decision to increase the official cash rate by 25 basis points to 4.35%.CommBank said the minutes may provide more details on the board's discussion and how members were assessing the impact of the conflict around Iran.A consumer confidence report, due for release the same day, will capture sentiment over the most recent RBA rate hike and the ongoing conflict in the Middle East.Lastly, Hong Kong will report April unemployment stats on the same day.WEDNESDAY, May 20Bank Indonesia will meet for its monetary policy meeting and could raise rates by 25 basis points to 5% amid a depreciation of the local currency and a shift in expectations for Federal Reserve rate cuts, which bodes unfavorably for the Indonesian rupiah, ING forecasted.China will similarly set its one-year and five-year loan prime rates, with markets expecting no change in the prevailing rates of 3% and 3.5%, respectively.Trade data from Taiwan and Malaysia will be due.Taiwan is once again expected to show a "strong reading" when it releases April export orders data, with growth topping 54% year on year, ING said in a preview.The island nation started the year "quite strongly" amid external demand for its main high-tech products, which is expected to continue, according to the note.Meanwhile, Malaysia's trade surplus is expected to narrow to 10.5 billion ringgit from 24.6 billion ringgit in the month prior, Trading Economics forecasted.The Reuters Tankan Index for May, a key gauge of Japanese business confidence, will be due the same day.THURSDAY, May 21Japan will release several economic indicators on Thursday, including April trade data and March machinery orders.The country is expected to report a trade deficit of 29.7 billion yen for the month, reversing from a surplus of 667 billion yen in March, according to a Trading Economics consensus.New Zealand will similarly report its April trade balance, with analysts forecasting a trade surplus of around NZ$840 million, according to a Trading Economics consensus.Neighboring Australia will report labor data for April. Westpac expects unemployment to remain at 4.3%.Elsewhere, Hong Kong will report April inflation data while Macau will disclose first-quarter retail sales stats. In South Korea, the April producer price inflation data will be due.On the activity front, S&P Global will release flash purchasing managers' index reports covering May manufacturing, services, and composite activity in India, Australia and Japan.FRIDAY, May 22Japan's April inflation print will capture headlines on Friday, giving markets a look into how the energy shock from the Middle East conflict is impacting the economy.Economists at ING said energy effects may have a limited impact on growth but a greater impact on inflation, which is expected to clock in at 1.8% year on year in April -- up from 1.5% in March."Higher energy costs are expected to increase overall inflation. The impact, though, will likely be still less significant than that observed in other Asian and developed countries," ING said in a note.Inflation data will also be due in Macau.Meanwhile, Taiwan could see a marginal drop in its unemployment when it releases April labor stats. According to Trading Economics, Taiwan's jobless rate could go down to 3.3% from 3.35%.New Zealand is expected to see a "muted" rise in real retail sales when reporting its Q1 data, Westpac said in a preview. The bank expects a rise of 0.2% for the first three months of the year, versus the 0.9% growth recorded in the previous quarter. "The latter part of March saw fuel prices rising sharply, and that has been a drag on spending," Westpac said.Lastly, South Korea will release a report capturing consumer confidence for May. ING said it expects consumer sentiment to deteriorate further amid inflation hikes and energy headwinds.

ASX 200^BSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Australian Shares Decline; Santos Achieves First Oil from Alaska Project

Australian shares declined on Monday as ⁠oil prices rose and the Strait of Hormuz remained closed.The S&P/ASX 200 Index fell 1.45%, or 125.50 points, to close at 8,505.30.Brent crude oil futures climbed to above $110 per barrel. The 30-year US Treasury yield rose to the highest point since 2023.On the domestic front, the Reserve Bank of Australia said Project Acacia, a research project led by the RBA and the Digital Finance Cooperative Research Center (DFCRC), revealed considerable industry interest in tokenization and showed potential to materially improve the efficiency and functioning of Australia's wholesale asset markets.In company news, Santos (ASX:STO) achieved first oil from the Pikka phase one development in Alaska. The phase one initiated production was part of the start-up and late-stage commissioning process, and it is expected to lead to an initial ramp-up to gross 20,000 barrels of oil per day over the next few weeks. Its shares rose 3% on market close.Tuas (ASX:TUA) said the Infocomm Media Development Authority of Singapore paused the review of the proposed acquisition of Singaporean telecommunications firm M1 by its Simba Telecom subsidiary. Its shares closed down 63%.Lastly, Brambles (ASX:BXB) lowered its forecast fiscal-year ­sales revenue growth to 2% to 3% from the previous 3% to 4% and underlying profit growth to 3% to 5% from 8% to 11%, reflecting about $60 million in earnings impact due to repair capacity constraints in parts of its US subcontracted service center network. Its shares fell 20% on market close.

ASX 200ASX:BXBASX:STOASX:TUA
Asia

ASX Midday Sector Update: Energy Stocks Advance, Industrials Sector Struggles

Energy stocks advanced nearly 2% at midday Monday, the only sector in the green.Woodside Energy Group (ASX:WDS) gained more than 2% in recent trade.Meanwhile, the industrials sector struggled the most amid a broad-based decline, shedding almost 4%.Transurban Group (ASX:TCL) shares were down nearly 2% in recent trade.

ASX 200ASX:TCLASX:WDS
International

RBA Says Project Acacia Shows Tokenisation Could Materially Improve Australia's Wholesale Asset Markets

The Reserve Bank of Australia said Project Acacia, a research project led by the RBA and the Digital Finance Cooperative Research Center (DFCRC), revealed considerable industry interest in tokenization and showed potential to materially improve the efficiency and functioning of Australia's wholesale asset markets, according to a Monday report.The project involved industry participants developing and testing 20 wholesale tokenized market use cases across multiple asset classes, including fixed income, managed funds, repos, structured products, private markets, carbon credits, and trade payables.The use cases highlighted significant opportunities across the asset lifecycle, including improved capital efficiency via reduced settlement frictions, reduced counterparty risk, enhanced access to 24/7 liquidity pools, and reductions in intermediation costs and operational errors from automation, the report added.The project also showed that opportunities for enhancing wholesale markets do not rely solely on tokenization, with interim reforms such as more expansive use of existing fast payment rails, better alignment of infrastructure operating hours with global financial centers, and greater transparency in key funding markets also able to deliver meaningful benefits, the RBA said.The RBA and DFCRC, with partner agencies on the Council of Financial Regulators (CFR), are seeking to build on the industry momentum generated by Project Acacia through the establishment of a new multi-stream program of work, with the RBA also planning to consult with industry on potential changes to existing settlement infrastructure and examine how innovations in tokenized money could improve wholesale cross-border payments.

ASX 200
Asia

ASX Preview: Australian Shares Set to Fall on Escalating Middle East Conflict Fears; Elders Posts Lower Fiscal H1 Underlying Earnings, Higher Revenue

Australian shares are poised to fall on Monday as heightened Middle East tensions, including reported drone strikes near a nuclear facility in the United Arab Emirates and US-Iran warnings over escalation, raise fears of disruption to Gulf energy infrastructure and the Strait of Hormuz, pushing oil prices higher.In the macroeconomy, the Reserve Bank of Australia's final report on Project Acacia is due at 11:30 am Sydney time.In corporate news, Elders (ASX:ELD) reported Monday fiscal first-half underlying earnings of AU$0.181 per share on revenue of AU$1.77 billion, compared with underlying earnings of AU$0.188 on revenue of AU$1.34 billion a year earlier.ALS (ASX:ALQ) reported Monday fiscal year 2026 underlying earnings of AU$0.753 per share on revenue of AU$3.32 billion, compared with underlying earnings of AU$0.621 on revenue of AU$3 billion a year earlier.Australia's benchmark index fell 0.1% or 9.9 points to close at 8,630.80 on May 15.

ASX 200ASX:ALQASX:ELD
Asia

Australian Shares Flat; Electro Optic Systems Amends Terms for Acquisition of MARSS Group Assets

Australian shares receded on Friday as ⁠US Treasury yields rose to the highest level in nearly a year.The S&P/ASX 200 Index was little changed to close at 8,630.80.Brent crude oil futures climbed to around $107 per barrel as the Strait of Hormuz remained closed. Copper prices retreated from a record high, while gold prices fell towards $4,600 per ounce.The 30-year US Treasury yield rose to 5.067%, the highest since July 2025, Reuters reported.On the domestic front, trimmed mean inflation in Australia is forecast to have risen 0.3% month-over-month in April, which would see annual growth accelerate to 3.4% and three-month annualized growth around 3.2%, ANZ said.Headline inflation is likely to have risen 0.5% month-over-month, or 4.3% on an annual basis.In company news, Electro Optic Systems Holdings (ASX:EOS) agreed revised agreement terms for its acquisition of the assets of the MARSS group business. The upfront payment of $36 million for MARSS will be made on Friday, and the receipt of the funds by the MARSS vendors and the completion of the acquisition are expected in the coming days. Its shares rose 3% on market close.ClearView Wealth (ASX:CVW) said the Australian Competition and Consumer Commission (ACCC) ruled that the proposed acquisition of all of its shares by Zurich Financial Services Australia through a members' scheme of arrangement may be put into effect. Its shares closed up 1%.Lastly, Alkane Resources (ASX:ALK) reported fiscal third-quarter earnings of AU$0.0675 per share, up from AU$0.0132 a year earlier. Revenue for the three months ended March 31 was AU$274.4 million, compared with AU$63.2 million a year earlier. Its shares fell 3% on market close.

ASX 200ASX:ALKASX:CVWASX:EOS
International

Australia's Trimmed Mean Inflation May Have Risen 0.3% Month-Over-Month in April, ANZ Says

Trimmed mean inflation in Australia is forecast to have risen 0.3% month-over-month in April, which would see annual growth accelerate to 3.4% and three-month annualized growth around 3.2%, ANZ said in a note on Friday.Headline inflation is likely to have risen 0.5% month-over-month, or 4.3% on an annual basis.The April inflation data will be important in showing the speed and extent to which higher input costs, such as fuel, aluminium, plastics, helium, and fertilizer, are flowing through to the broader inflation basket. While these second-order impacts are likely to accelerate over the coming months, the magnitude of their impact in April is likely to be small, the bank said.It expects to see around an 8% month-over-month decline in automotive fuel, partly due to the halving of the fuel excise. There are also reports of sharp rises in the cost of building materials, including pipes, timber, and plastic.Housing is likely to have risen 0.3% month-over-month in April. Alcohol and tobacco are also likely to have increased 0.3%, while food and non-alcoholic beverages are expected to see a 0.5% rise.Transport is likely to have declined 3% in April, recreation and culture is likely to have lifted 2.7%, and clothing and footwear is likely to have increased 4.5%. Insurance and financial services are likely to be broadly unchanged.

ASX 200
Asia

Market Chatter: Australian Home Prices Expected to Fall Up to 6% Through 2027, HSBC Says, AFR Reports

HSBC expected Australian home prices to fall up to 6% over the next two years as the country's housing market sees effects of soft investor demand and new tax policies, according to a Friday Australian Financial Review report, citing HSBC Chief Economist Paul Bloxham.Bloxham expects national home prices to decrease in the second half of the year, with year-on-year growth to close flat as the Reserve Bank of Australia's cash rate hikes are already feeding through to softer conditions, the report added.HSBC sees home price declines continuing in the following year and expects a decrease of 2% to 6% year-on-year in 2027.According to the AFR report, HSBC also warned that falling prices are increasing financial strain on households and mortgage holders, but added that the banking system remains well capitalized and housing-related leverage is still supported by low levels of negative equity.(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.)

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Asia

ASX Midday Sector Update: Information Technology Stocks Advance, Materials Sector Struggles

Information technology stocks advanced 4% at midday Friday.Technology company Xero (ASX:XRO) gained over 10% in recent trade.On the flip side, the materials sector struggled, shedding nearly 3%.BHP Group (ASX:BHP) shares fell 3% in recent trade.

ASX 200ASX:BHPASX:XRO
Asia

ASX Preview: Australian Shares Set to Rise as Oil Steadies; Alkane Resources Posts Higher Fiscal Q3 Earnings, Revenue

Australian shares are poised to rise on Friday as oil prices held steady near recent highs, with Brent crude around $106 a barrel, after reports of limited but disrupted shipping through the Strait of Hormuz kept geopolitical supply risks elevated despite mixed signals on global demand and interest rate concerns.Overnight, the S&P 500 and the Dow Jones Industrial Average each rose 0.8%, while the Nasdaq Composite gained 0.9%.In the macroeconomy, investors are eyeing the release of the Melbourne Institute consumer inflation expectations report.In corporate news, Alkane Resources (ASX:ALK) reported Friday fiscal third-quarter earnings of AU$0.0675 per share on revenue of AU$274.4 million, compared with earnings of AU$0.0132 on revenue of AU$63.2 million a year earlier.Billionaire Olivier Goudet and Luxembourg's Platin have increased their stake in Treasury Wine Estates (ASX:TWE), with voting power rising to 9.04% from 8.14%.Australia's benchmark index rose 0.1% or 10.3 points to close at 8,640.70 on Thursday.

ASX 200ASX:ALKASX:TWE
Asia

Australian Shares Flat; Federal Court Rules Against Coles Group on Price Discounts in ACCC Case

Australian shares were flat with positive bias on Thursday as ⁠the summit between the US and Chinese Presidents gets underway.The S&P/ASX 200 Index was little changed to close at 8,640.70.US President Donald Trump and Chinese counterpart Xi Jinping met in Beijing. Brent crude oil futures were trading around $105.89 per barrel. Gold fell as the hotter-than-expected US inflation data increased the chances of a tighter monetary policy in the US.On the domestic front, Australia's household spending fell 1.2% in April, reversing a fuel-driven surge in March as lower spending on petrol and public transport weighed on transport and recreation spending, according to the Commonwealth Bank of Australia's Household Spending Insights."The oil shock resulting from the current Middle East conflict has not had the size of impact that was initially expected," the bank's head of Australian Economics, Belinda Allen, said.In company news, Australia's Federal Court ruled Thursday that Coles Group (ASX:COL) deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices. The case against Coles was brought by the Australian Competition and Consumer Commission (ACCC) in 2024, saying Coles increased prices on certain items for a very short period of time before putting them on a discount, making the promotions illusory in nature. Its shares fell 2% on market close.Xero (ASX:XRO) reported Thursday that it swung to a loss of NZ$0.19 per share in the fiscal year 2026 from a profit of NZ$1.47 a year earlier. Total operating revenue for the 12 months ended March 31 was NZ$2.75 billion, compared with NZ$2.1 billion a year earlier. Its shares closed down 9%.Lastly, Megaport (ASX:MP1) said its unit Latitude.sh has secured three major GPU, CPU, network, and storage contracts with a combined total contract value (TCV) of about AU$254 million and annualized recurring revenue (ARR) of about AU$90.6 million. Its shares were up 28% on market close.

ASX 200ASX:COLASX:MP1ASX:XRO
Asia

ASX Midday Sector Update: Financials Stocks Gain, Consumer Staples Down

Financials stocks led gainers with a rise of about 0.1% in midday trading Thursday.ASX (ASX:ASX) advanced nearly 2% after it appointed Anthony Attia as chief executive, effective Sept. 1.On the flip side, consumer staples stocks shed 2.3% to lead decliners in a broadly lower market.Coles Group (ASX:COL) fell past 3% after Australia's Federal Court ruled that the retailer deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices.

ASX 200ASX:ASXASX:COL
International

Australia Household Spending Falls in April, CommBank Says

Australia's household spending fell 1.2% in April, reversing a fuel-driven surge in March as lower spending on petrol and public transport weighed on transport and recreation spending, according to the Commonwealth Bank of Australia's (ASX:CBA) Household Spending Insights published Thursday."The oil shock resulting from the current Middle East conflict has not had the size of impact that was initially expected," CBA Head of Australian Economics Belinda Allen said.Six of the 12 spending categories fell in April, including rare declines in insurance and health, with health recording its first monthly drop since March last year.The transport category recorded the largest decline, driven by lower petrol prices following a fuel excise cut and the introduction of free public transport in Victoria and Tasmania."Petrol price movements continue to have a big impact on the month-to-month swing in household spending, and we expect households to do much of the heavy lifting over [the] coming months in slowing spending and cooling inflation," Allen added.Recreation spending fell by 2.6% in seasonally adjusted terms in April, making it the second-weakest category after transport, and it was the only category to record an annual decline in growth over the year.Annual spending growth slowed to 5.5% in April from an 8.5% surge in March, with utilities leading growth at around 18% after energy rebates ended.Tasmania recorded a 0.2% rise in spending in April, while South Australia and Victoria were unchanged, and Western Australia, Queensland, New South Wales, and the Australian Capital Territory each declined by 0.2%.

ASX 200ASX:CBA
Asia

ASX Preview: Australian Shares Set to Fall as Oil Weakens; Xero Swings to Fiscal Year 2026 Loss, Posts Higher Revenue

Australian shares are poised to fall on Thursday as weaker oil prices, concerns over possible US interest rate hikes, and heightened geopolitical tensions surrounding Iran and US-China talks in Beijing weigh on global risk sentiment.Overnight, the S&P 500 and the Nasdaq Composite rose 0.6% and 1.2% respectively, while the Dow Jones Industrial Average fell 0.1%.In the macroeconomy, investors are eyeing the release of the Melbourne Institute consumer inflation expectations report.In corporate news, Xero (ASX:XRO) reported on Thursday a fiscal year 2026 loss of NZ$0.19 per share on revenue of NZ$2.75 billion, compared with earnings of NZ$1.47 on revenue of NZ$2.1 billion a year earlier.Orezone (ASX:ORE) reported Thursday first-quarter adjusted earnings of $0.07 per share on revenue of $185.9 million, compared with adjusted earnings of $0.04 on revenue of $82.7 million a year earlier.Australia's benchmark index fell 0.5% or 40.3 points to close at 8,630.40 on Wednesday.

ASX 200ASX:OREASX:XRO
Asia

Australian Shares Decline; Commonwealth Bank of Australia Reports Higher Fiscal Q3 Cash Net Profit After Tax

Australian shares declined on Wednesday as ⁠the risk increased that the US Federal Reserve would be forced to raise rates earlier than expected after inflation data came in hotter than expected.The S&P/ASX 200 Index fell 0.46%, or 40.30 points, to close at 8,630.40, setting another 20-day low.The US consumer price index rose 3.8% in the 12 months through April, the biggest year-over-year increase since May 2023. Brent crude oil futures were trading around $107 per barrel as talks between the US and Iran remained deadlocked.On the domestic front, the Australian budget for fiscal year 2026 to fiscal year 2027 comprises significant policy changes, including capital gains taxation, negative gearing, and the taxation of trusts, all of which are expected to improve the fiscal position in the long term, ANZ Research said.Australia's seasonally adjusted wage price index rose 0.8% in the March quarter, unchanged from the December 2025 quarter, data from the Australian Bureau of Statistics showed.The number of total loan commitments for dwellings in Australia fell 6.2% to 139,794 between the March and December 2025 quarters, data from the Australian Bureau of Statistics showed. New home loans declined 6.9% to 82,453, with their total value falling 4.3% to AU$61.42 billion.In company news, Commonwealth Bank of Australia (ASX:CBA) reported a cash net profit after tax of around AU$2.7 billion for the fiscal third quarter, up 4% from a year earlier. The bank reported a loan impairment expense of AU$316 million, and raised the forward-looking component of collective provisions by AU$200 million during the quarter. Its shares fell 10% on market close.Temple & Webster Group (ASX:TPW) implemented a margin optimization program in response to declining consumer confidence and expects the move to boost profitability starting from the fourth quarter of fiscal 2026. Following the initiative, the company's April earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to around AU$2.5 million to mark "the most profitable April" in its history. Its shares closed down 5%.Lastly, Aristocrat Leisure (ASX:ALL) reported fiscal first-half adjusted earnings of AU$1.29 per share, up from AU$1.163 a year earlier. Revenue for the six months ended March 31 was AU$3.03 billion, unchanged from a year earlier. Its shares were up over 13% on market close.

ASX 200ASX:ALLASX:CBAASX:TPW
Japan

ASX Midday Sector Update: Materials Stocks Jump, Financial Sector Struggles

Materials stocks advanced nearly 3% at midday Wednesday.BHP Group (ASX:BHP) gained almost 4% in recent trade.Meanwhile, the financial sector struggled, shedding nearly 4%.Commonwealth Bank of Australia (ASX:CBA), whose shares fell almost 10% in recent trade, reported a cash net profit after tax of around AU$2.7 billion for the fiscal third quarter, up 4% from a year earlier.

ASX 200ASX:BHPASX:CBA
International

Australia's Wage Price Index Rises in March Quarter

Australia's seasonally adjusted wage price index rose 0.8% in the March quarter, unchanged from the December 2025 quarter, data from the Australian Bureau of Statistics showed on Wednesday.Quarterly wage growth was led by health care and social assistance, up 0.7%.Hourly pay rates, excluding bonuses, increased by 0.8% in the private and 0.5% in the public sectors.On an annual basis, wage growth was 3.3% in the March quarter, down from 3.4% in the previous quarter.Public sector wages rose 3.3% in the year to the March quarter, down from 3.6% a year earlier, while private sector wages grew 3.2%, down from 3.3%.

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