Insignia shares surge as Bain, CC Capital hike takeover offers

Investing.com – Australia stocks were lower after the close on Thursday, as losses in the Energy, Utilities and Consumer Discretionary sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 lost 0.57% to hit a new 1-month low.

The best performers of the session on the S&P/ASX 200 were Resolute Mining Ltd (ASX:RSG), which rose 6.33% or 0.03 points to trade at 0.42 at the close. Meanwhile, St Barbara Ltd (ASX:SBM) added 4.35% or 0.01 points to end at 0.24 and Cochlear Ltd (ASX:COH) was up 4.59% or 12.08 points to 275.38 in late trade.

The worst performers of the session were Appen Ltd (ASX:APX), which fell 9.03% or 0.13 points to trade at 1.31 at the close. Mesoblast Ltd (ASX:MSB) declined 7.92% or 0.19 points to end at 2.21 and Clinuvel Pharmaceuticals Ltd (ASX:CUV) was down 7.52% or 0.98 points to 12.05.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 573 to 469 and 399 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 2.49% to 12.96 a new 1-month high.

Gold Futures for April delivery was up 0.06% or 1.69 to $2,927.69 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.56% or 0.37 to hit $66.68 a barrel, while the May Brent oil contract rose 0.55% or 0.38 to trade at $69.68 a barrel.

AUD/USD was unchanged 0.08% to 0.63, while AUD/JPY rose 0.15% to 94.50.

The US Dollar Index Futures was down 0.06% at 104.19.

Investing.com-- Rio Tinto Ltd (ASX:RIO) said it will invest $1.8 billion to develop an extension to its Brockman mine project in West Pilbara, Western Australia, to further bolster its iron ore operations.

Rio Tinto (NYSE:RIO) said the project had now received all necessary state and federal government approvals, as well as approvals from indigenous groups.

“Brockman 4 produced 43 million tonnes of iron ore in 2024. Securing this project extends the life of the Brockman hub,” Rio Tinto Iron Ore CEO Simon Trott said in a statement.

The extension is called Brockman Syncline, and will have the capacity to produce up to 34 million tonnes of iron ore per annum. First ore from the project is also due in 2027, earlier than prior estimates of 2028. Construction on the project will begin later in 2025.

Rio said about 1,000 jobs will be created during construction, and the project will have a workforce of about 600 workers.

The company is the world’s biggest producer of iron ore, and is moving to ramp up production to position for a potential demand rebound in top importer China.

But Rio, along with peer BHP Group Ltd (ASX:BHP), has been grappling with a prolonged downturn in iron ore prices, amid jitters over increased U.S. trade tariffs.

Investing.com-- Most Asian stocks jumped on Thursday led by a surge in Hong Kong shares, as President Donald Trump’s delay of 25% auto tariffs on Mexico and Canada eased immediate trade war fears, while optimism was further boosted by China’s new stimulus measures.

Major U.S. stock indexes jumped on Wednesday, in anticipation that the U.S. administration may be open to tariff negotiations.

Asia stocks jump as Trump’s auto tariff delay signals softer stance

On Tuesday, President Trump escalated trade tensions by imposing 25% tariffs on Canadian and Mexican goods, and increased levies on Chinese products to 20%.

In his congressional speech on Wednesday, Trump reaffirmed plans for reciprocal tariffs, set to take effect on April 2. This move could further escalate trade tensions.

However, the White House announced on Wednesday a one-month exemption from the newly imposed 25% tariffs on vehicle imports from Mexico and Canada, offering temporary relief to global markets.

The White House said Trump is open to considering more tariff exemptions after they took effect Tuesday.

A Bloomberg report showed that Trump is planning to exempt certain agricultural products from the tariffs imposed on Canada and Mexico.

Japan’s Nikkei 225 jumped 1.1% on Thursday, while TOPIX advanced 1.2%.

Indonesia’s Jakarta Stock Exchange Composite Index climbed 1.4%, while the Philippines’ PSEi Composite index rose 1.2%.

Singapore’s Straits Times Index gained 0.6%, while South Korea’s KOSPI was trading 0.9% higher.

India’s Nifty 50 Futures edged up 0.1%.

Bucking the regional trend, Australia’s S&P/ASX 200 index fell 0.6%.

HK shares surge on fresh China stimulus; tech sector leads gains

China announced new fiscal stimulus measures at the National People’s Congress on Wednesday to invigorate its slowing economy, setting a 2025 GDP growth target of approximately 5%.

Premier Li Qiang emphasized enhancing domestic consumption and technological innovation, particularly in artificial intelligence (AI). The government plans to increase the fiscal deficit ratio to 4% to finance consumer goods programs and bolster the tech sector.

The NPC highlighted AI’s importance, mentioning startups like DeepSeek, known for its cost-effective, high-performance AI models. This acknowledgment bolstered investor confidence in the tech sector.

Hong Kong’s Hang Seng index climbed 2.3%, while the Hang Seng TECH index surged 3.2%.

Among HK-listed tech giants, Alibaba’s (HK:9988) stock surged 6.2%, while Tencent (HK:0700) shares climbed 4.7%.

China’s Shanghai Composite rose 0.8%, while the Shanghai Shenzhen CSI 300 index gained 0.9%.

Despite ongoing U.S.-China trade tensions, including recent tariffs and sanctions, China’s commitment to AI and tech innovation has invigorated its stock markets.

Investing.com – Australia stocks were lower after the close on Wednesday, as losses in the Consumer Staples, Energy and Consumer Discretionary sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 fell 0.70% to hit a new 1-month low.

The best performers of the session on the S&P/ASX 200 were Appen Ltd (ASX:APX), which rose 11.15% or 0.14 points to trade at 1.45 at the close. Meanwhile, Resolute Mining Ltd (ASX:RSG) added 6.76% or 0.03 points to end at 0.40 and Clinuvel Pharmaceuticals Ltd (ASX:CUV) was up 6.11% or 0.75 points to 13.03 in late trade.

The worst performers of the session were Treasury Wine Estates Ltd (ASX:TWE), which fell 5.59% or 0.59 points to trade at 9.97 at the close. Netwealth Group Ltd (ASX:NWL) declined 4.89% or 1.46 points to end at 28.40 and Coles Group Ltd (ASX:COL) was down 4.35% or 0.86 points to 18.89.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 669 to 365 and 443 ended unchanged.

Shares in Treasury Wine Estates Ltd (ASX:TWE) fell to 3-years lows; down 5.59% or 0.59 to 9.97.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.98% to 12.64.

Gold Futures for April delivery was up 0.05% or 1.34 to $2,921.94 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 0.84% or 0.57 to hit $67.69 a barrel, while the May Brent oil contract fell 0.31% or 0.22 to trade at $70.82 a barrel.

AUD/USD was unchanged 0.16% to 0.62, while AUD/JPY fell 0.44% to 93.57.

The US Dollar Index Futures was down 0.10% at 105.58.

Investing.com-- Most Asian stocks rebounded on Wednesday amid hopes that U.S. President Donald Trump may negotiate the steep tariffs imposed on Mexico, Canada, and China, just a day earlier, while Australian shares declined despite data showing robust economic growth in the fourth quarter.

Regional equities also drew cues from a jump in U.S. stock index futures in Asia hours. Major U.S. stock indexes ended sharply lower on Tuesday after Trump’s announcement.

Asia stocks get respite from prospects tariff negotiations

On Tuesday, President Trump escalated trade tensions by imposing substantial tariffs on imports from Canada, Mexico, and China.

A 25% tariff was levied on Canadian and Mexican goods, while tariffs on Chinese products were increased to 20%.

These measures prompted swift retaliatory actions as Canada announced immediate 25% tariffs on U.S. imports worth C$30 billion, and China imposed 15% tariffs on U.S. agricultural imports, including chicken and wheat, along with 10% on products like soybeans and pork.

In an interview with Fox Business on Tuesday, U.S. Commerce Secretary Howard Lutnick indicated that President Trump might be open to negotiations to resolve the escalating trade disputes.

This suggestion of potential dialogue introduced a degree of optimism in global markets.

Japan’s Nikkei 225 rose 0.5% on Wednesday, while TOPIX was largely unchanged.

Hong Kong’s Hang Seng index jumped 1.5%, rebounding from steep losses in the previous session.

Indonesia’s Jakarta Stock Exchange Composite Index jumped 2.9%, leading the gains among regional bourses.

Singapore’s Straits Times Index gained 0.3%, while Malaysia’s KLCI index rose 0.6%.

South Korea’s KOSPI jumped 0.9%.

India’s Nifty 50 edged 0.2% higher at open on Wednesday.

Australia’s Q4 GDP grows more than expected

Data on Wednesday showed that Australia’s Gross Domestic Product (GDP) grew by 0.6% in the fourth quarter of 2024, surpassing the previous quarter’s 0.3% growth and exceeding market expectations of 0.5%.

On an annual basis, GDP increased by 1.3%, up from 0.8% in the third quarter, driven by strong public and private investment, as well as a rebound in the terms of trade.

Despite the positive data, Australia’s S&P/ASX 200 index was trading 0.8% lower, as local investors were assessing the impact of tariffs on Australia’s biggest trade partner China.

China targets 5% GDP growth in 2025; parliamentary meeting in focus

China’s Shanghai Composite rose 0.3%, while the Shanghai Shenzhen CSI 300 index gained 0.4%.

China has set a 2025 economic growth target of around 5%, media reports said, citing official documents.

Premier Li Qiang will present it at the National People’s Congress, which began on March 5.

Amid U.S. tariffs and trade tensions, China plans fiscal measures, including a higher budget deficit and 1.3 trillion yuan in special treasury bonds, reports stated.

China’s annual parliamentary meeting, also known as "Two Sessions", is being held from March 5 to March 11 this week in Beijing.

Investing.com – Australia stocks were lower after the close on Tuesday, as losses in the Energy, Utilities and Resources sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 0.58%.

The best performers of the session on the S&P/ASX 200 were Lynas Rare Earths Ltd (ASX:LYC), which rose 2.91% or 0.20 points to trade at 7.07 at the close. Meanwhile, Healius Ltd (ASX:HLS) added 2.27% or 0.03 points to end at 1.35 and Region Re Ltd Unit (ASX:RGN) was up 2.43% or 0.05 points to 2.11 in late trade.

The worst performers of the session were Mineral Resources Ltd (ASX:MIN), which fell 10.24% or 2.45 points to trade at 21.48 at the close. Zip Co Ltd (ASX:ZIP) declined 7.05% or 0.17 points to end at 2.24 and Mesoblast Ltd (ASX:MSB) was down 8.37% or 0.21 points to 2.30.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 788 to 298 and 390 ended unchanged.

Shares in Mineral Resources Ltd (ASX:MIN) fell to 3-years lows; down 10.24% or 2.45 to 21.48.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 2.39% to 12.40.

Gold Futures for April delivery was up 0.06% or 1.60 to $2,902.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 0.57% or 0.39 to hit $67.98 a barrel, while the May Brent oil contract fell 0.82% or 0.59 to trade at $71.03 a barrel.

AUD/USD was unchanged 0.43% to 0.62, while AUD/JPY fell 0.48% to 92.61.

The US Dollar Index Futures was down 0.11% at 106.55.