Daily Market Update: 20 August 2026

ASX falls for sixth session as bond sell-off hits banks, tech

The S&P/ASX 200 Index (ASX: XJO) fell 16.2 points, or 0.2 per cent, to 9,053.80 on Wednesday, marking a sixth consecutive decline as a global bond sell-off pushed US 10-year yields to their highest levels since early 202. Six of the 11 sectors still finished higher despite the broader weakness. The heavyweight banks dragged as investors booked profits following earnings, with Commonwealth Bank of Australia (ASX: CBA) down 1.2 per cent to $160.71, Westpac Banking Corporation (ASX: WBC) down 0.6 per cent to $34.44, National Australia Bank Limited (ASX: NAB) down 0.7 per cent to $38.92 and ANZ Group Holdings Limited (ASX: ANZ) down 0.2 per cent to $37.62. Rising bond yields and a fresh sell-off in US chipmakers hit rate-sensitive technology names hardest, led by WiseTech Global Limited (ASX: WTC) tumbling almost 9 per cent after the Australian Competition and Consumer Commission executed search warrants against the company, alongside NextDC Limited (ASX: NXT) down 5.6 per cent to $13.90, Megaport Limited (ASX: MP1) down 2.4 per cent to $20.34 and Technology One Limited (ASX: TNE) down 0.8 per cent to $32.71. Brent crude’s climb toward US$92 a barrel amid the US-Iran standoff over the Strait of Hormuz added to the cautious tone, while gold held the prior session’s losses at US$4,360 an ounce. Elsewhere, Santos Limited (ASX: STO) gained 2.5 per cent to $8.31 and Woodside Energy Group Ltd (ASX: WDS) rose 1.2 per cent to $33.55 on the higher oil price, while healthcare extended Tuesday’s near 8 per cent rally, with CSL Limited (ASX: CSL) up 5.5 per cent to a six-month high of $166.48, Pro Medicus Limited (ASX: PME) up 1.1 per cent to $198.85 and Sonic Healthcare Limited (ASX: SHL) up 2.4 per cent to $23.56.

Stocks in focus: Temple & Webster and Hansen Technologies tumble on earnings

Retailers bore the brunt of another disappointing batch of earnings, with Temple & Webster Group Ltd (ASX: TPW) diving 17.8 per cent to $4.15 after declining to give revenue guidance amid housing-market uncertainty and disclosing a sharp sales slowdown over the past seven weeks, while Breville Group Limited (ASX: BRG) fell 4.2 per cent to $31.72 as record sales were offset by US tariffs and the cost of shifting manufacturing away from China. Hansen Technologies Limited (ASX: HSN) plunged 21.2 per cent to $3.35 after long-serving chief executive Andrew Hansen stepped aside following more than three decades in the role. On the upside, Stockland Corporation Limited (ASX: SGP) surged 12.4 per cent to $4.55 after full-year net profit jumped 20.2 per cent to $994 million and net funds from operations rose 10.4 per cent to $892 million, while Whitehaven Coal Limited (ASX: WHC) fell 2.7 per cent to $7.55 despite declaring a fully franked final dividend of 6 cents a share, as full-year net profit dropped to $385 million from $649 million a year earlier. Southern Cross Electrical Engineering Limited (ASX: SXE) fell 3.7 per cent to $4.48 even as full-year underlying earnings jumped 40 per cent to $64.4 million, while Superloop Limited (ASX: SLC) gained 6.7 per cent to $3.33 on a 22 per cent rise in revenue and Energy One Limited (ASX: EOL) jumped 8.1 per cent to $16.35 after striking a $99.8 million scrip deal to acquire UK-based Gas Management Services.

Wall Street mixed as AI jitters weigh on chipmakers, pharma rallies

US equities closed mixed as losses across AI infrastructure and bank stocks offset gains elsewhere, with the S&P 500 Index (NYSE: SPX) adding 0.2 per cent, the Dow Jones Industrial Average (NYSE: DJI) gaining 120 points and the Nasdaq Composite Index (NASDAQ: COMP) shedding 0.2 per cent. The Treasury’s move to double the limit on long-term securities buybacks for next quarter, alongside the prospect of increased dollar liquidity, supported equities, while FOMC minutes confirmed some policymakers still see scope for rate hikes this year. Retail earnings were mostly well received, with Target Corporation (NYSE: TGT) up 4.3 per cent and Lowe’s Companies, Inc. (NYSE: LOW) up 2 per cent, while TJX Companies, Inc. (NYSE: TJX) fell 4.2 per cent. The pharmaceutical sector rallied strongly, led by Merck & Co., Inc. (NYSE: MRK) up 12.6 per cent and Moderna, Inc. (NASDAQ: MRNA) surging 177 per cent after a trial of the companies’ joint vaccine reduced melanoma recurrence. Chip producers came under pressure following tepid results from OpenAI, with Advanced Micro Devices, Inc. (NASDAQ: AMD) down 3.7 per cent and Intel Corporation (NASDAQ: INTC) down 4 per cent.