Daily Market Update: 19 August 2026

Healthcare surge offsets fifth straight ASX decline

The S&P/ASX 200 Index (ASX: XJO) slipped 3.2 points, or less than 0.1 per cent, to close at 9070 on Tuesday, a fifth consecutive session of losses that leaves the index 2.4 per cent below its early-August record high, with six of the 11 sectors finishing lower despite a deluge of earnings results from the market’s largest companies. Healthcare led the gains, adding nearly 8 per cent, as CSL Limited (ASX: CSL) jumped 17.3 per cent to $157.82 after flagging a return to earnings growth this year despite a near $3.7 billion annual loss, Cochlear Limited (ASX: COH) rose 7.6 per cent to $141.20 on full-year profit at the top end of guidance, and Pro Medicus Limited (ASX: PME) climbed 11.9 per cent to $196.75 after a 22.9 per cent revenue rise and a 130.3 per cent jump in net profit. Resources also gained, with BHP Group Limited (ASX: BHP) up 2.7 per cent to $63.85 after unveiling its biggest dividend in four years on booming copper prices, and gold aspirant Ausgold Limited (ASX: AUC) rocketing 24.4 per cent to $1.33 after agreeing to an all-share takeover by OceanaGold Corporation (ASX: OGC) valuing it at $776 million. Financials dragged, with the big four banks all lower and Bendigo and Adelaide Bank Limited (ASX: BEN) losing 5.3 per cent to $10.56 after APRA cited “longstanding and pervasive weaknesses” in its risk management, while Judo Capital Holdings Limited (ASX: JDO) rallied 16.9 per cent to $1.07 on a 29 per cent jump in full-year net profit to $111.1 million.

Takeover bids and earnings surprises rattle individual names

Reliance Worldwide Corporation Limited (ASX: RWC) jumped 24.7 per cent to $4.50 after Brookfield Capital Partners sweetened its offer to $4.75 a share, a 31.6 per cent premium reflecting an enterprise value of about $4.1 billion, while EQT Holdings Limited (ASX: EQT) surged 21.6 per cent to $21.04 after TPG Global lobbed a $657.9 million takeover bid for the wealth services firm, which is being sued over its exposure to the Shield and First Guardian collapses. Challenger Limited (ASX: CGF) rose 6.5 per cent to $10.32 after flagging a $450 million buyback and a special 1.5 cent dividend alongside net profit of $506 million, more than two-and-a-half times the prior year. EML Payments Limited (ASX: EML) dived 17.1 per cent to 29 cents even as it narrowed its full-year net loss to $19.7 million and forecast a return to profit, and Sims Limited (ASX: SGM) tumbled 11 per cent to $22.97 despite net profit more than tripling to $289.1 million. Hub24 Limited (ASX: HUB) lost 7.3 per cent to $79.94 despite a 42 per cent jump in net profit to $120.2 million that beat analyst expectations, while Macmahon Holdings Limited (ASX: MAH) dropped 8.6 per cent to 91 cents despite an 8 per cent rise in annual revenue to $2.6 billion and a tenth straight year of meeting or beating guidance.

Chipmaker selloff and rising yields weigh on Wall Street

United States equities closed lower on Tuesday as a selloff in chipmakers and elevated bond yields weighed on sentiment, with the S&P 500 Index (NYSE: SPX) falling 0.7 per cent, the Nasdaq 100 Index (NASDAQ: NDX) losing 1.7 per cent and the Dow Jones Industrial Average (NYSE: DJI) shedding 116 points. Long-term yields eased from recent peaks but stayed near multi-year highs as inflation risk and surging AI-related bond issuance fuelled uncertainty over term premia, compounded by rising energy prices after the US signalled a prolonged blockade of Iranian tanker exports. Chipmakers tied to the artificial intelligence trade posted sharp losses, with NVIDIA Corporation (NASDAQ: NVDA) down 2.3 per cent, Broadcom Inc. (NASDAQ: AVGO) shedding 3.2 per cent, Micron Technology, Inc. (NASDAQ: MU) losing 7 per cent, Advanced Micro Devices, Inc. (NASDAQ: AMD) retreating 4.3 per cent, Intel Corporation (NASDAQ: INTC) tumbling 6.6 per cent and SanDisk Corporation (NASDAQ: SNDK) sinking 9 per cent. Meta Platforms, Inc. (NASDAQ: META) fell 4.4 per cent, Tesla, Inc. (NASDAQ: TSLA) slipped 0.7 per cent and Oracle Corporation (NYSE: ORCL) shed 2.7 per cent, while credit-sensitive financials also came under pressure, with Goldman Sachs Group, Inc. (NYSE: GS) down 1 per cent and Citigroup Inc. (NYSE: C) closing 0.6 per cent lower. The Home Depot, Inc. (NYSE: HD) shed 0.3 per cent despite beating earnings estimates, as elevated borrowing costs and a soft housing market weighed on the retailer.