Woolworths Group shares rose more than 4% to close at 41.28 Australian dollars, their highest level in five years and the first close above 41 dollars since 2021, as investors sought defensive stocks during a volatile session in global markets. The gain came without any company-specific announcement, while South Korea's Kospi fell more than 7% on chip-stock losses and hotter-than-expected U.S. inflation data. The shares are up about 58% over the past year, recovering from a period of lost market share and criticism over pricing. Full-year results reported in August showed group sales up 3.6% to 71.5 billion dollars and net profit before significant items up 15.4%. Analyst Steven Springford of Catapult Wealth maintains a sell rating, arguing the recovery is already reflected in the share price.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on ibtimes.com.au ↗
Related news
- Woolworths Shares Jump 4 % to Five - Year High as Investors Seek Defensive Stocks Amid Global Market Turmoil
Woolworths shares rose 4.27% to close at 41.28 Australian dollars, their highest level in five years and the first close above 41 dollars since 2021, as investors sought defensive stocks while South Korea's Kospi fell more than 7% and triggered a circuit breaker. The stock is up about 58% over the past year, though the company released no company-specific news on the day. Weaker-than-expected Australian employment data also reduced expectations of further rate hikes by the Reserve Bank of Australia, supporting consumer-focused stocks. In August, the company reported fiscal 2026 group sales up 3.6% to 71.5 billion dollars and net profit before significant items up 15.4% to 1.599 billion dollars. Analyst Steven Springford of Catapult Wealth maintains a sell rating, arguing the recovery is already reflected in the share price.
- Stock Market Midday , Oct . 16 : Tech Stocks Slide as Investors Rotate Into Defensive Sectors
As of 11:37 AM ET, the S&P 500 was down 0.34% at 7,718, the Nasdaq Composite fell 1.09% to 26,419, and the Dow rose 0.29% to 52,327 as money rotated from tech into defensive sectors. Gold rose 0.17% to $4,177.51 and the 10-year Treasury yield slipped to 5.08%, with energy leading sector gainers while technology and communication services lagged. Tesla surged early after unveiling a redesigned Roadster using SpaceX technology but erased those gains by midday. Hut 8 tumbled 7% as on-chain data tracked significant Bitcoin transfers to exchanges, and Netflix fell 2% after a change in content leadership. CoreWeave dropped almost 10% and is down 23% over the past five days on AI debt fears, while investors watched Fed Chair Warsh's Bangkok remarks for clues on a possible rate hike.
- Stock Market Midday, Oct. 16: Tech Stocks Slide as Investors Rotate Into Defensive Sectors
As of 11:37 AM ET, the S&P 500 fell 0.34% to 7,718, the Nasdaq Composite dropped 1.09% to 26,419, and the Dow Jones Industrial Average rose 0.29% to 52,327 as investors rotated out of tech into defensive sectors. Gold rose 0.17% to $4,177.51, the 10-Year Treasury yield slipped to 5.08%, and energy stocks led sector gains while technology and communication services lagged. Tesla shares surged early after it revealed a redesigned Roadster using SpaceX technology but erased those gains by midday, Hut 8 tumbled 7% after on-chain data showed large Bitcoin transfers to exchanges, and Netflix fell 2% after a change in its content leadership. The Nasdaq is extending its weekly decline as chipmakers such as Intel and AMD face the rotation, while CoreWeave dropped almost 10% and is down 23% over the past five days on AI debt concerns. Investors are watching Fed Chair Kevin Warsh's Bangkok speech for hints on a possible rate hike, though he was tight-lipped on further tightening, and borrowing costs remain on many radars.
- West Asia , Ukraine conflicts drag on ; global turmoil leaves no room for political experiments
According to this opinion piece, Iran and its proxies are hurting the economic ambitions of the UAE and Saudi Arabia. A Reuters investigation cited in the article found Iran has struck at least 135 infrastructure targets in the past seven months, with the Fujairah port hit 19 times. The author argues that Gulf states' failure to retaliate reflects political confusion or lack of capacity, while tourism in Dubai and Abu Dhabi has suffered the biggest losses. In contrast, the IMF is cited as forecasting India's 2026 GDP growth at 7%, making it the fastest-growing major economy. The piece concludes that political experiments driven by vested powers will only cause chaos.
- 'Boring is not bad': CEO of Southeast Asia's largest bank pitches Singapore as a haven amid global turmoil
DBS Group CEO Tan Su Shan pitched Singapore at the DBS Asia Future Forward conference as a stable haven amid global turmoil from trade wars, El Niño weather, the Iran conflict and the Russia-Ukraine war, arguing that the city-state's predictability is a strength in volatile times. She cited Singapore's AAA-rated debt, political stability and central position in Asia, along with DBS's own top-tier credit rating, as reasons the bank can help clients diversify supply chains. Temasek, DBS's biggest shareholder, managed assets worth 518 billion Singapore dollars ($404 billion) as of March 31. On workforce strategy in the AI era, she said managers should hire for attitude, since it cannot be trained.
- Roy Morgan Business Confidence drops 2 . 6pts to 76 . 5 ; a new record high 76 % of businesses expect bad time for the Australian economy over the next five years
Roy Morgan Business Confidence fell 2.6 points to 76.5 in September 2026, its sixth straight month below 80 and just above the all-time low of 76 in July. The main driver was Victoria, down 20 points to 72.4, as the short-lived bounce under new Premier Ben Carroll faded. The Reserve Bank raised rates by 0.25% to 4.6% and annual CPI reached 4% for the 12 months to August. A record-high 76.3% of businesses expect 'bad times' for the Australian economy over the next five years, and only 26.9% say now is a good time to invest. Confidence fell in all six states year-on-year, with South Australia lowest at 65.1, while mining, at 48.3, showed the largest industry decline.
Related markets
Latest news
- FinFET Technology - Global Strategic Business Report Just Released: AI and Data Centers Push FinFET Chip Market Toward $97 Billion
According to Research and Markets, the global FinFET technology market was valued at $38.5 billion in 2024 and is projected to reach $97.1 billion by 2030, growing at a compound annual growth rate of 16.7%. Demand for high-performance, energy-efficient chips across consumer electronics, data centers, automotive, AI and IoT is driving growth. The CPU segment is forecast to reach $36.6 billion by 2030, while China is the fastest-growing market, with an 18% CAGR and $20.8 billion by 2030. The report also assesses the impact of tariffs on semiconductor supply chains and profiles companies including TSMC, Samsung, Intel and NVIDIA.
- The sorrow of Europe's “big brother” economy: Bonds keep selling off heavily after a “turbulent weekend”
French 10-year government bond yields rose 0.14 percentage points to 4.93% after a turbulent weekend, while the spread over German bonds returned to 1.47 percentage points. Nationwide protests over rising living costs and student education conditions turned into widespread rioting and looting; the government said at least 3,000 shops and businesses were looted, and the French retail federation estimated damages could reach “several hundred million euros.” More than 2,500 people are under formal investigation, 67 of them detained, and several cities have imposed curfews. President Macron rejected Interior Minister Laurent Nuñez’s resignation offer, even though Nuñez admitted police were deployed too thinly for protests of over 550,000 people, against an expected 200,000. Opposition politicians and the mayors of Paris and Marseille criticized the government for letting police lose control of the situation.
- President Donald Trump Claims, "We Don't Have Inflation, and Tariffs Don't Cause Inflation," but a New Report Strongly Disagrees
Although the stock market has posted strong returns under President Trump, the article argues his inflation-driving policies may be the biggest threat to the AI-driven bull market. A New York Federal Reserve report by three economists finds that by February 2026, tariffs had added 2.9 percentage points to goods price inflation, and each percentage point increase in average tariffs lifted consumer prices by about a quarter of a point after one year. Beyond tariffs, the Iran war and the ongoing closure of the Strait of Hormuz have pushed fuel prices sharply higher, with fuel oil up 74.0% and gasoline up 34.2% over the past year, while overall CPI rose 3.7%. The article warns that persistent inflation could prompt the Fed to raise rates more aggressively, slowing AI infrastructure investment and sending stocks lower.
- Bitcoin ETFs just saw their biggest day in a month thanks entirely to BlackRock
U.S. spot bitcoin ETFs took in $526.6 million on Monday, the largest daily net inflow in nearly a month, driven entirely by BlackRock's iShares Bitcoin Trust (IBIT), which pulled in $665.2 million, its biggest daily inflow since Oct. 7 last year, according to SoSoValue data. Fidelity's FBTC lost $83.6 million and Grayscale's GBTC shed $54.9 million, while the remaining funds recorded no net flows. The inflow more than erased last week's $228.5 million of withdrawals, but funds remain about $90.5 million in net outflows for October, according to CoinDesk calculations. Ether funds moved the opposite way, losing $103.3 million in their fourth consecutive session of outflows, with BlackRock's ETHA accounting for $95.4 million of that.
- A Big4 bank cut deposit rates in the morning, then raised them again in the afternoon
VietinBank cut its deposit rates for terms of 6 months and longer on the morning of Oct. 20, then restored them to pre-adjustment levels by the afternoon. Its afternoon rate board showed 3.5% per year for 6 to under 12 months, 5.9% for 12 to under 24 months and 6% for 24 months and longer, versus 3%, 5.4% and 5.5% in the morning. Rates for terms under 6 months stayed unchanged, including 2.1% for 1 to under 3 months and 2.4% for 3 to under 6 months. The move came as banks followed the State Bank of Vietnam's guidance to cut deposit rates by at least 0.5 percentage points for terms of 6 months and longer, and Vietcombank and Agribank were among those reducing rates.
- IVV vs. SPY: Which S&P 500 ETF Is the Better Buy for Long-Term Investors?
The article compares two ETFs that track the S&P 500, iShares Core S&P 500 ETF (IVV) and State Street SPDR S&P 500 ETF (SPY), which have nearly identical holdings. The main difference is the expense ratio: IVV charges 0.03% a year, one-third of SPY's 0.09%, and its distribution yield is about 1.1% versus 1% for SPY. SPY's high liquidity remains valuable for active traders. The article concludes that IVV is the better choice for long-term investors, since lower costs can compound over time.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.