Market commentary

The Australian share market rose modestly over the September 2025 quarter, supported by strength in financials, healthcare, and resources, while inflation concerns, interest rate uncertainty, and stretched valuations tempered the outlook.

Australian equities declined modestly over the December 2024 quarter as domestic economic growth slowed and inflation showed signs of moderating, while international uncertainty surrounding US political developments and Chinese economic conditions added to market volatility.

Australian equities delivered their strongest September quarter in over a decade, driven by improving interest rate clarity, Chinese economic stimulus, and a US rate cut, despite a brief sharp market sell-off triggered by US recession fears.

In the June quarter the ASX200 run faltered recording a fall of 129 points or 1.6% closing at 7,768. The market traded sideways over the volatile period fluctuating within a 400-point range as the market seeks greater certainty.

Australian equities rose 4% in the March quarter despite falling corporate profits, stretched valuations, and an uncertain economic outlook, while income holdings continued to deliver consistent returns amid expectations of higher rates for longer.

Australian equities rose over 7% in the December quarter, with a conservatively positioned portfolio delivering above-market returns through a combination of equity gains and consistent income from fixed interest holdings, while cash reserves were maintained for future opportunities.

Australian equities rose over 7% in the December quarter as markets anticipated an end to rate rises, though inflation remains persistent and the economic outlook uncertain, with portfolios favouring capital protection while income holdings continued to perform consistently.

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September Quarter in Review The ASX200 closed 154 points lower falling 2.15% for the September quarter. The new Reserve Bank Governor, Michele Bullock, began her seven-year term in September. Governor Bullock in her first board meeting reiterated the bank’s commitment…

The ASX200 closed relatively flat for the quarter increasing 25 points or 0.36% to 7,203 for the June quarter. Interest rates remain a key focus for markets, with the Reserve Bank of Australia (RBA) announcing its second pause in interest rates after twelve rate increases applying pressure disproportionately across the Australian economy.

During the quarter the RBA increased the cash rate another 2 times by 0.25% in May and June. This took the RBA cash rate to 4.1%. Inflation remains a concern and will take some time to ease. Over the next 3 to 6 months there will be over 800,000 mortgages that will be coming off fixed rates that will now be at a higher rate which will result in some constriction in the economy with households having to meet these higher interest rates

March Quarter in Review The ASX200 rose 1.98% closing at 7,178 for the March quarter. Interest rates remain a key focus in markets with the RBA pausing after a range of indicators suggest inflation may have peaked following ten consecutive…