Australia’s S&P/ASX 200 climbed further into record territory Tuesday afternoon, rising 0.45% to 8,933.8 points, adding 39.8 points as investors weighed a sharp overnight drop in global oil prices against a wave of corporate earnings updates and continued optimism tied to easing Middle East tensions.

The gain builds on a strong recent run for Australian equities, with the benchmark index continuing to trade within striking distance of the all-time high it set earlier this year.

A Market Buoyed by Easing Middle East Tensions

The S&P/ASX 200 was set to rise Monday as the United States paused strikes for a second day, a development that helped fuel broader optimism across regional markets heading into the new trading week. That momentum appeared to carry through into Tuesday’s session, even as falling oil prices created a mixed picture for specific sectors of the market.

Energy Stocks Under Pressure as Oil Tumbles

While the broader index advanced, Australia’s energy sector faced significant headwinds from the overnight collapse in global crude prices. ASX 200 energy shares including Beach Energy and Santos were expected to come under pressure Tuesday after oil prices sank sharply overnight, with West Texas Intermediate crude down 7.3% to $82.78 a barrel and Brent crude down 8.5% to $88.58 a barrel, according to Bloomberg data.

That decline followed reports over the weekend that the United States and Iran had paused military strikes, easing fears of a prolonged disruption to Middle East oil shipments and sending crude prices tumbling from their recent highs.

China’s Blockbuster Chip Listing Reverberates Across Markets

Tuesday’s session also came against the backdrop of one of the most dramatic corporate listings of the year, with China’s ChangXin Memory Technologies making waves across Asia-Pacific markets. China’s fourth-largest DRAM maker exploded higher in its Shanghai debut as investors chased a rare pure-play bet on Beijing’s chip self-sufficiency push, with shares closing at 49 yuan, up 466%, valuing the company at about 3.3 trillion yuan, or roughly $488 billion, and making it the biggest company listed in mainland China.

The IPO raised as much as 66.6 billion yuan, the second-largest offering in Chinese history, generating 141 billion yuan in turnover on the day, nearly 7% of all onshore market transactions. The retail portion of the offering was 212 times oversubscribed, with 9.4 million orders worth 7.07 trillion yuan submitted, roughly 10 times the size of SpaceX’s record order book. That listing added to a broader narrative of volatility across global chipmakers, with flow-on effects felt across memory and semiconductor stocks worldwide.

Corporate Earnings and Buybacks Add to the Mix

Several individual company updates also shaped Tuesday’s trading session on the ASX. Webjet-owned WebBeds flagged first-half 2027 revenue growth of 11% to 15% compared with the same period a year earlier, alongside an on-market buy-back of up to $90 million, funded from existing cash and running from mid-August 2026 through late July 2027. The company’s total transaction value margin was seen at approximately 6.7%, up from 6.5% in the first half of 2026, marking a third consecutive half of margin gains, with cash conversion above 100% for the coming half.

Elsewhere, defense and space technology company Electro Optic Systems posted standout results heading into the new trading week. Electro Optic Systems flagged a 284% jump in first-half revenue and upgraded its base-business guidance, citing a record order book driven by strong counter-drone demand. The company’s first-half 2026 revenue reached about $169 million, up 284%, or $125 million, from the same period a year earlier, marking the highest first-half revenue total in the company’s history, while its order book stood at $846 million as of June 30, up 84%, or $387 million, from the end of 2025.

Bell Potter analysts maintained a bullish stance on the defense contractor following the update, retaining a buy rating and raising the firm’s price target to $12.60 from $12.50, citing the company’s leadership position across multiple counter-drone technology verticals and its exposure to rising global defense spending.

A Historic Backdrop for Australian Equities

Tuesday’s gains continue to build on a remarkable run for the ASX 200 over the past several years. The index hit an all-time high of 9,198.6 points in February 2026 before settling closer to the 8,800 mark by July, with the benchmark having achieved a long-term annualized historical return of roughly 8.2% on a total return basis, including dividends, over its more than 25-year history. The index remains heavily weighted toward the financial and materials sectors, with financials making up around 28% of the index and including major players such as Commonwealth Bank of Australia.

Global Backdrop Remains Supportive

Beyond the immediate catalysts of falling oil prices and the CXMT listing, Tuesday’s session took place against a broader global backdrop of continued merger and acquisition activity and green energy investment. M&A deal volumes were projected to hit $173 billion in 2026, the highest level since 2019, aided by faster regulatory approvals. Green energy financing also hit a record $20.1 billion in the first half of 2026, topping the full-year 2025 total, split between $11.8 billion in construction financing and $8.3 billion in investment financing.

With the index continuing to trade near record territory and a heavy slate of domestic earnings reports still to come during the Australian reporting season, investors are likely to remain focused on how individual companies navigate a market environment shaped by volatile oil prices, geopolitical developments in the Middle East, and continued ripple effects from China’s blockbuster semiconductor listing. Whether the ASX 200 can push toward fresh record highs in the sessions ahead may hinge heavily on how energy stocks absorb the overnight oil price shock and whether broader risk appetite continues to hold up as more corporate results filter through the market this week.

Operator

[Audio Gap] Gentlemen to Whitehaven Coal Q4 FY ’26 Quarterly Production Report. [Operator Instructions] Thank you for joining us today. I would now like to hand over to Managing Director and CEO, Paul Flynn. Please go ahead.

Paul Flynn
MD, CEO & Director

Good morning, everybody, and thanks very much for joining us now for the June quarter production report. Very pleased to put a final quarter to this financial year that rounded out a year full of second half disruptions. In fact, whether that be weather or conflicts obviously around the world. But despite all that, I think we’ve done well to button down the year and record some positive numbers to give us aggregate positive outcomes. So as usual, I’ll just go through the highlights, and then we’ll get to Q&A. And as usual, I’m joined by our COO, Ian Humphris, and our CFO, Kevin Ball.

So just to round out the Q4 round out to the year. Our total recordable injury frequency rate was a very positive outcome for the group. So safety has delivered 3.3 million is the TRIFR and that’s actually a record for the expanded business, which is very positive to see. The June quarter ROM production at 10.7 million tonnes was a nice increment over and above the weather affected March, and we’ve crested 40 million

Thailand has been at the center of significant international news coverage recently, spanning security incidents, major economic developments, sporting events, and diplomatic relations. This summary highlights the most pressing stories shaping the nation’s current narrative.

Security Crisis in Southern Thailand

The most urgent story dominating headlines is a deadly attack on a security checkpoint in southern Thailand, where five soldiers were killed and six civilians were injured in a combined gun and pipe bomb assault. Multiple international outlets, including Al Jazeera, DW, and AP News, confirmed the attack occurred in the country’s long-troubled southern region, which has experienced decades of separatist violence. Thai authorities have launched a manhunt for suspects following the incident, with the army confirming the casualty figures. This attack underscores the persistent security challenges in Thailand’s deep south, a region that has seen recurring violence linked to separatist insurgency movements for years.

Booming Investment and AI Infrastructure Growth

Thailand is experiencing a remarkable surge in foreign investment, driven largely by artificial intelligence infrastructure development. According to Bloomberg and multiple other sources, Thailand’s FDI applications jumped 80% to $41 billion in the first half of the year, while other reports cite figures as high as $43.6 billion, reflecting big tech’s accelerated push into Southeast Asian AI infrastructure. The Board of Investment (BOI) confirmed that first-half investment topped 1.47 trillion baht, with digital and data center projects leading the charge. This investment boom coincides with Thailand’s new investment jumping 37% in the January-June period, positioning the country as an increasingly attractive destination for Southeast Asia’s tech-driven economic expansion. Thai Prime Minister Anutin has pledged full backing for Chinese investment as a Thailand-China expo opened in Bangkok, further cementing bilateral economic ties. For more on how AI is transforming the nation’s investment landscape, see Thailand Business News.

Tyson Fury’s Thailand Fight Draws Global Attention

Boxing fans worldwide are watching Thailand closely as heavyweight legend Tyson Fury prepares for a career-first test against Mariusz Wach. Notably, Fury weighed in 26 pounds lighter than his opponent, marking the first time in his career he has been outweighed by an opponent. Multiple sports outlets, including Sky Sports, BBC, and Reuters, have covered the buildup extensively, with Fury defending his decision to fight in Thailand, reportedly asking rhetorically, “Would Beckham do it?” The boxer has stated that “the best is yet to come” ahead of the bout, generating significant international sports media coverage in the lead-up to the fight.

Controversy Over AI Chip Smuggling

A significant technology controversy has emerged involving China’s Moonshot AI allegedly using servers in Thailand to circumvent U.S. chip export bans. According to U.S. officials cited by NewsNation and other outlets, the White House has accused Moonshot AI of accessing banned Nvidia GB300 chips via Thailand, with reports suggesting the company “stole from Anthropic” and used Thai infrastructure to dodge restrictions. This story adds a geopolitical dimension to Thailand’s growing role in the global AI supply chain, raising questions about the country’s position amid U.S.-China technology tensions.

Border Tensions and Regional Diplomacy

Thailand continues to navigate complex regional relationships. The country is pressing on with a border fence project along its Cambodia frontier following clashes in 2025, according to Reuters. Meanwhile, Myanmar’s military leader Min Aung Hlaing is scheduled to visit Thailand in early August, highlighting Thailand’s continued diplomatic engagement with its neighbors despite regional instability. Separately, China has asked Thailand to deport a Chinese journalist, with human rights organizations warning of potential persecution—a story that has drawn scrutiny from press freedom advocates.

Trade, Tariffs, and Economic Diversification

Thailand faces potential trade headwinds, as the country is on alert following a U.S. Section 301 probe that could raise tariffs by up to 25%. Simultaneously, Thailand is pursuing economic diversification through initiatives like a $700 million EV plan aimed at replacing 80,000 vehicles, signaling commitment to sustainable transportation. Additionally, China’s durian imports from Thailand and Malaysia have soared amid a supply glut pressuring regional growers, illustrating the interconnected nature of Southeast Asian agricultural trade.

Infrastructure and Tourism Developments

Thailand’s high-speed rail link to China is targeted for completion of its first phase by 2030, according to multiple railway industry publications. In tourism, IHG Hotels & Resorts is expanding its Thailand portfolio with a new Holiday Inn Express location in Krabi Ao Nang, while Thailand has extended stay and work authorization for migrant workers, addressing labor market needs. The country also scrapped plans to end visa-free entry for Indian tourists, reflecting efforts to sustain its critical tourism sector.

Source : Google News – Search

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ET Intelligence Group: Funds raised by asset management companies (AMCs) through new fund offers (NFOs) continued their year-on-year slide in the June 2026 quarter for the sixth consecutive period to reach a five year low of ₹1,759 crore. NFO collections fell 73% from the year-ago level of ₹6,506 crore, according to data from the Association of Mutual Funds in India (AMFI). On a sequential basis, too, they fell for the third consecutive quarter, this time by a sharp 83.5% from the prior quarter’s collection of ₹10,661 crore.

The sharp slowdown followed weak sentiments in the equity market during the preceding quarter. The BSE Sensex had fallen nearly 16% to 71,947 by the end of March, amid escalating geo-political tensions in West Asia. Retail investors often take cues from recent market performance while making investments. Although market sentiment improved in the June quarter, with the Sensex rising nearly 5% to 76,479 by the end of June, the recovery did little to revive NFO fundraising.

Read more: FIIs increase PSU exposure, trim stakes in private banks

“NFO activity is closely linked to market sentiment and performance. During rising markets, positive returns tend to improve investor confidence, encouraging AMCs to launch more new schemes and attracting greater retail participation,” Rishi Kohli, chief investment officer, Jio BlackRock Asset Management told ET, adding that the impact of market conditions is not uniform across all NFOs. Schemes launched by established AMCs and managed by fund managers with a proven track record, or NFOs offering product differentiation can continue to attract investor interest even during volatile periods.

Passive funds dominated new launches in the June 2026 quarter. Of the 31 NFOs launched by AMCs, 26 were index funds and ETFs, which collectively mobilised Rs 1,024 crore.

AMFI data indicates that the first quarter of a financial year has historically been a weak period for NFO mobilisation compared with the rest of the year. SIP inflow, on the other hand, has remained largely unfazed by stock market volatility, reaching Rs 31,115 crore in April, Rs 30,954 crore in May and Rs 31,781 crore in June.
“The headline strength in SIP inflow is driven largely by contributions from new mutual fund investors,” Swarup Mohanty, CEO of Mirae Asset Investment Managers told ET citing that a section of existing investors, however, has either paused or reduced investments amid heightened market volatility.
Mohanty expects SIP inflow to strengthen further from the current `25,000-30,000 crore monthly range, eventually reaching `40,000 crore a month over the next two years.

Mumbai: Public sector lenders, even those beyond the top rungs of the business and market-capitalisation leaderboards, found favour with foreign institutional investors (FIIs) over the past year, showed an ET analysis, while they reduced exposure to top-tier private banks. Analysts believe the trend mirrors the diminishing premiums for private lenders as state-run rivals quickly close the performance gap.

HDFC Bank, India’s biggest by value and largely considered the benchmark-setter in prudential banking over the past two decades, has seen its FII ownership shrink more than 6 percentage points to 36.26%. The story is similar at Kotak Mahindra Bank, where overseas fund ownership has fallen 5.48 percentage points by the end of June.

Read more: NFO flows hit a 5-year low in June quarter, SIPs stay robust

FII equity in ICICI Bank is down 4.21 percentage points, Axis Bank 2.45 percentage points, and IndusInd Bank 4.31 percentage points. By contrast, their stake has climbed 4 percentage points in the Bank of Maharashtra. Bank of India (up 3.34 percentage points) and Bank of Baroda (up 2.06 percentage points) appear to be the other two major PSU lender beneficiaries from the shift in focus by FIIs. Analysts say that the FIIs are moving their money based on the returns they are getting. The premium that private sector banks enjoyed has diminished as public sector banks have caught up on a lot of parameters.

Vanishing Premiums
“In asset quality, underwriting and loan growth there is not much to choose between both these groups which means the thesis of PSU underperformance is no longer valid,” said Siddharth Rajpurohit, an analyst at Systematix Shares and Stocks. “Large private banks are enjoying lower spreads on their retail loans like home and auto loans because of competition. The lines are now blurred, and investors have to cherry pick between banks – not merely PSU or private.”

To be sure, FII holding in PSU banks is largely low, compared with their overall exposure to top-tier private banks, with the 12.68% stake in Canara Bank being the largest for this category of lenders.
To be sure, FII holding in PSU banks is largely low, compared with their overall exposure to toptier private banks, with the 12.68% stake in Canara Bank being the largest for this category of lenders. By contrast, they collectively own nearly 40% in Axis Bank, in which FII ownership is the largest among private lenders. The shift by FIIs toward PSU banks has boosted their share prices, which have climbed for the past two years as better PSU performance has also coincided with corporate governance issues at some of the large private sector banks.

Analysts say that the stock market performance of some private banks with high FII holdings — HDFC Bank, IndusInd and Kotak Mahindra — has been below average in the past few years because of diverse reasons.

“On the other hand, PSU bank profitability has improved as they have come out of their asset quality issues and subsequent restrictions imposed by the regulator,” said Anmol Das, research head, Swyon Advisors, an alternative investment fund.

“The government’s assertion that they will have to manage their own capital has also helped in a way. Corporate growth has also slowed; so there are no bulky defaults and the shift toward retail also means higher yields. All these factors are reasons FIIs must have taken a liking to these banks.”

Data analysed by ET shows that the Nifty PSU Bank index has risen 14.42% Since July 1, 2024, beating the 4.51% growth in the private bank index in that period. Indian Bank is the top gainer in that period with a 53% rise in its shares followed by a 26% gain by Bank of Maharashtra and Union Bank of India, respectively.

Yuvraj Choudhary, analyst, Anand Rathi Securities, said PSU banks have outpaced their private sector counterparts in return on equity (RoE) in the last two years. “Aggregate PSU RoE is 15% higher than the aggregate private bank RoE of 12%. PSU banks have outpaced their private sector counterparts for the last eight quarters and on course for the ninth one,” Choudhary said. “They have gained market share, improved asset quality and that is reflected in their book value.” Relative improved performance explains the diminishing premiums — and the increasing interest of FIIs toward state-owned lenders.