Daily Market Update: 21 August 2026

ASX snaps six-day losing streak on miners, tech and health gains

The S&P/ASX 200 Index (ASX: XJO) rose 30 points, or 0.3 per cent, to 9083.80 on Thursday, snapping a six-day losing streak even as seven of the 11 sectors finished lower. Technology led the gains, with Codan Limited (ASX: CDA) up 12.4 per cent to $48.88, Zip Co Limited (ASX: ZIP) rocketing 18.2 per cent to $3.05 on a 58 per cent surge in earnings, WiseTech Global Limited (ASX: WTC) rebounding 9.1 per cent to $43.19 and Xero Limited (ASX: XRO) adding 2.4 per cent to $85.29. Miners tracked a higher gold price, with Northern Star Resources Limited (ASX: NST) up 6.2 per cent to $23.94 on a 19 per cent rise in revenue to $7.6 billion, Evolution Mining Limited (ASX: EVN) surging 10.2 per cent to $15.07, BHP Group Limited (ASX: BHP) gaining 3.2 per cent to $65.75 and Rio Tinto Limited (ASX: RIO) up 1.8 per cent to $173.04. Healthcare extended its rally, led by CSL Limited (ASX: CSL), up 2.8 per cent to $171.20, and Pro Medicus Limited (ASX: PME), up 3.6 per cent to $206.01, while the majors weighed on the index as investors took profits, with Commonwealth Bank of Australia (ASX: CBA) down 2.7 per cent to $156.44 and Westpac Banking Corporation (ASX: WBC), ANZ Group Holdings Limited (ASX: ANZ) and National Australia Bank Limited (ASX: NAB) all down more than 1 per cent.

Reporting season delivers sharp swings across retail, property and mining

On a busy day of results, IDP Education Limited (ASX: IEL) plunged 20.7 per cent to $1.72 after a 74 per cent slump in net profit to $13.3 million and an 11 per cent drop in revenue to $795.4 million, while Medibank Private Limited (ASX: MPL) tumbled 6.4 per cent to $4.71 as membership growth slowed and cost of living pressures weighed on cover upgrades. Downer EDI Limited (ASX: DOW) dropped 10.3 per cent to $6.68 on a softer near term outlook, and Megaport Limited (ASX: MP1) fell 5.1 per cent to $19.31 despite profit rising 24 per cent to $77.1 million. Goodman Group (ASX: GMG) eased 1.5 per cent to $28.78 even as full year operating profit rose 15.7 per cent to $2.67 billion, and Brambles Limited (ASX: BXB) slipped 3.4 per cent to $18.80 despite a 6 per cent rise in profit to US$954 million and a higher final dividend. On the upside, Super Retail Group Limited (ASX: SUL) surged 15.1 per cent to $14.45 on earnings that beat expectations, Universal Store Holdings Limited (ASX: UNI) jumped 17.7 per cent to $8.30 on strong youth fashion sales despite profit falling 21.6 per cent, Cuscal Limited (ASX: CCL) rose 7.7 per cent to $5.62 after profit lifted 49 per cent to $42.7 million, Bega Cheese Limited (ASX: BGA) climbed 10.8 per cent to $6.66 on plans to lift investment in protein products, and MAAS Group Holdings Limited (ASX: MGH) gained 9 per cent to $6.17 after unveiling a buyback alongside an 89 per cent rise in full year profit to $136.1 million. Dexus (ASX: DXS) added 1.6 per cent to $5.89, reversing an early loss despite flagging lower fiscal 2027 earnings from higher borrowing costs and reduced trading profits and performance fees.

Wall Street retreats as Treasury plan and energy prices stoke inflation fears

US equities closed lower on Thursday as investors questioned whether the Treasury’s plan to curb borrowing costs would offer only a short-term fix, while rising energy prices added to inflation concerns. The S&P 500 Index (NYSE: SPX) lost 0.9 per cent, the Nasdaq 100 Index (NASDAQ: NDX) fell 0.7 per cent and the Dow Jones Industrial Average (NYSE: DJI) shed 704 points, with Treasury yields rising across the curve on concern the buyback plan could worsen the inflationary backdrop amid ample dollar liquidity. Borrowing costs were also lifted by higher fuel and gas prices after President Trump said the US had entered an “economic war” with Iran, prolonging blockades of tankers crossing the Persian Gulf. Financials were mostly weaker, with JPMorgan Chase & Co. (NYSE: JPM) down 1.6 per cent and Morgan Stanley (NYSE: MS) losing 3.2 per cent, while AI hyperscalers also mostly declined following tepid results from OpenAI (unlisted), which failed to grow at the same pace as rival Anthropic (unlisted). Walmart Inc. (NYSE: WMT) sank 9.1 per cent, its sharpest single session decline in four years, after second quarter sales fell short of expectations.