Asia
Australian Shares Finish Higher; SGH Fiscal 2026 Underlying EPS, Revenue Down
Australian shares ended slightly higher on Tuesday after the Reserve Bank of Australia (RBA) decided to leave the cash rate unchanged for the second time.The S&P/ASX 200 Index closed 0.2% higher, or by 18 points, at 9,250.60.Brent crude futures rose to trade around $88 per barrel as uncertainty continues over a potential deal that would reopen the Strait of Hormuz for shipping.In domestic news, the RBA decided to leave the cash rate target unchanged at 4.35%, saying that while the economy appears to be slowing as expected after three rate lifts since the beginning of 2026, inflation remains too high and is not expected to return to around the midpoint of the target range until late 2027.Australian consumer confidence rose 0.3 points in the week of Aug. 3 to 9 to 75 points, reaching a relatively steady state, ANZ said. The four-week moving average eased 0.1 points to 74.1 points.Business confidence in Australia fell 1 point to negative 6 in July, as uncertainty over the Middle East conflict and oil prices continued to weigh on the business outlook, National Australia Bank said.In company news, SGH (ASX:SGH) logged AU$2.25 in underlying EPS for fiscal 2026, compared with AU$2.26 a year ago. For the 12 months ended June 30, revenue was AU$10.59 billion versus AU$10.74 billion previously.Santos (ASX:STO) dispatched the first 450,000-barrel cargo of Alaska North Slope crude from its Pikka phase one development, loaded aboard the Polar Resolution at the Valdez Marine Terminal for delivery to US West Coast refineries.Lastly, Austal (ASX:ASB) received a non-binding, conditional proposal from a unit of South Korea's Hanwha Group to acquire its US operations for an indicative enterprise value of up to $1.2 billion.
ASX 200ASX:ASBASX:SGHASX:STO
