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ASX 200 Slides Over 0.6% as Rare Earths and Lithium Stocks Tumble Amid Global Semiconductor Sell-Off Today

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Australia Housing Market 2026: Two-Speed Boom Persists as Prices Hit

SYDNEY — Australian shares fell for a third consecutive session Wednesday, with the S&P/ASX 200 down 58 points, or 0.66 percent, to 8,745.9 in early afternoon trading, as renewed weakness in semiconductor stocks worldwide and a fresh wave of selling in lithium and rare earths names weighed on the broader market.

Wednesday’s decline followed a session on Wall Street in which chip stocks fell for a second straight day. The Nasdaq 100 dropped 1.8 percent overnight, while the S&P 500 lost 0.4 percent and the Dow Jones Industrial Average eased 0.2 percent after trading as much as 0.44 percent higher earlier in the session, according to Market Index. SPI futures had pointed to a subdued opening for the ASX 200 on Wednesday, with the index initially expected to open just 3 points lower before a broader risk-off tone took hold as the local session progressed.

The pullback extends a rough stretch for Australian equities. The benchmark index closed Tuesday down 27.1 points, or 0.45 percent, at 8,803.9, as overnight U.S. military strikes near the Strait of Hormuz reignited Middle East tensions, pushing oil prices and bond yields higher and draining risk appetite from the market’s most globally exposed sectors, according to Market Index’s evening wrap. That followed a 13-point, or 0.2 percent, decline on Monday to 8,831, itself a retreat from a one-week high reached the previous Friday.

Wednesday’s session has been dominated by continued turmoil in South Korea’s chip sector, which has rippled through to related Australian stocks. South Korea’s KOSPI index tumbled a further 4.9 percent Tuesday following a weak second-quarter earnings reaction from Samsung Electronics, even though the company posted a record 89.4 trillion Korean won operating profit, a figure that surpassed the highest quarterly profits ever recorded by both Nvidia and Apple. Despite those historic results, Samsung shares fell sharply, weighing on broader Asia-Pacific technology sentiment that has continued to affect trading into Wednesday.

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Base metals and critical minerals stocks bore the brunt of Tuesday’s and Wednesday’s selling. Nickel Industries, South32 and Sandfire Resources were each down more than 4 percent Tuesday, while major diversified miners BHP and Rio Tinto fell 1.9 percent and 1.8 percent respectively. Lithium and rare earths names were hit particularly hard despite relatively benign underlying commodity price signals, with Liontown Resources down 7.6 percent, Mineral Resources down 5.6 percent, Pilbara Minerals down 5.4 percent, Lynas Rare Earths down 6.4 percent, and Iluka Resources down 4.2 percent, according to Market Index. Chinese lithium carbonate futures eased only marginally by comparison, down just 0.7 percent, while benchmark neodymium-praseodymium prices were actually up 0.3 percent in China, underscoring the extent to which the local declines outpaced the underlying commodity moves.

Gold miners also came under renewed pressure. The S&P/All Ordinaries Gold index was down as much as 4 percent at Wednesday’s session lows before paring some losses, according to Market Index, continuing a reversal from the strong gains gold stocks posted just days earlier. Northern Star Resources and Evolution Mining had jumped 10.6 percent and 8.6 percent respectively on July 4 as bullion rallied on softer U.S. payroll data, but gold stocks tumbled 4.3 percent Tuesday as bullion retreated, with Northern Star dipping a further 5.1 percent.

Not every sector has struggled amid the broader pullback. Information technology stocks bucked the wider downturn Tuesday, with the sector’s benchmark index rising 2 percent even as South Korean tech shares slumped, buoyed in part by a governance-related rally in WiseTech Global, which jumped 5.7 percent after the company confirmed the removal of Richard White from the chairman role, a move the market interpreted as meaningfully de-risking a stock that had shed more than 40 percent from its highs partly due to governance concerns. Fellow technology names NextDC, TechnologyOne and Xero also posted gains Tuesday, while the big four banks advanced between 0.9 percent and 1.6 percent, providing some offsetting support to the broader index.

Individual company news has continued to shape Wednesday’s session. Gold miner Predictive Discovery reported that its Kiniero mine in Guinea ran well above nameplate capacity during the June quarter, milling 2.2 million tonnes at 0.86 grams per tonne of gold to pour 54,252 ounces, with its Nampala operation adding a further 9,774 ounces for a combined 64,026 ounces. The company reported cash and bullion holdings of $530 million as of June 30. Fellow gold producer Ramelius Resources delivered 192,182 ounces for the full financial year, within its guidance range and marking the company’s sixth consecutive year of meeting production targets, while Alkane Resources reported 168,337 gold-equivalent ounces for the year, near the upper end of its own guidance range.

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In a separate significant corporate development, logistics company Qube Holdings confirmed that its scheme of arrangement to be acquired by Rubik Australia has become legally effective, with the New South Wales Supreme Court’s approving orders lodged with the Australian Securities and Investments Commission. Qube shareholders are set to receive cash consideration of $5.20 per share, less interim and special dividends, with the transaction expected to be implemented on August 14. Elsewhere, U.S. biotechnology company Vertex Pharmaceuticals agreed to acquire San Diego-based Crinetics Pharmaceuticals for $85 per share in cash, a deal valuing the company at approximately $10 billion and sending Crinetics shares up roughly 100 percent, a transaction that drew attention among Australian biotech-focused investors given its scale.

Looking at the broader picture, the ASX 200 has traded in a range between 8,490.90 and 8,983.80 over the trailing month, according to Investing.com data, with the index still up 1.91 percent over the past 12 months despite the recent volatility. Analysts at IG have projected the index could move toward the 9,300 to 9,500 range by the end of 2026, though that outlook depends heavily on how the current tension between a resilient U.S. technology sector, a hawkish Reserve Bank of Australia, and uncertain Chinese economic data resolves itself in the coming months. With China’s June inflation figures due for release later this week and the RBA continuing to signal that further interest rate increases remain possible, investors are likely to remain cautious as they navigate a market being pulled simultaneously by domestic monetary policy, global commodity price swings, and overnight developments on Wall Street.

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Baxter International: The Gains Can Continue, But Should Slow

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Baxter International: The Gains Can Continue, But Should Slow

Baxter International: The Gains Can Continue, But Should Slow

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Despite The Headwinds, Earnings Are Exploding To The Upside

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Despite The Headwinds, Earnings Are Exploding To The Upside

Despite The Headwinds, Earnings Are Exploding To The Upside

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Aino Health reports Q2 sales decline on project delays

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Aino Health reports Q2 sales decline on project delays

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National role for resources wealth

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National role for resources wealth

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Blue Dart Express shares surge 7% after Q1 results. Here’s why Nuvama retains Buy, raises target

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Blue Dart Express shares surge 7% after Q1 results. Here's why Nuvama retains Buy, raises target
Shares of Blue Dart Express surged 6.77% to Rs 5,509.50 in Monday’s trading session after the logistics major reported a strong Q1FY27 performance. Brokerage firm Nuvama retained its ‘Buy’ rating on the stock, citing strong execution and growth prospects.

The company’s consolidated net profit jumped 79.6% year-on-year (YoY) to Rs 88 crore in Q1FY27, compared with Rs 49 crore in the corresponding quarter last year. Revenue from operations increased 15.1% YoY to Rs 1,658 crore, from Rs 1,441 crore in Q1FY26.

The strong quarterly performance was supported by higher revenue traction, improved operational efficiency, and expansion in operating margins. Blue Dart’s EBITDA margin improved significantly, reflecting better cost management and disciplined execution despite a challenging business environment.

Commenting on the results, Balfour Manuel, Managing Director, Blue Dart, said, “Our Q1FY27 performance reflects focused execution, disciplined network management and continued customer confidence in the Blue Dart brand. Despite a challenging operating environment and higher operating costs, we delivered strong profit growth while maintaining our commitment to reliability, speed and service excellence.”

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He added that the company remains focused on enhancing productivity, strengthening its integrated air and ground network, accelerating digital adoption, and investing in sustainable capabilities to create long-term value for stakeholders.

Nuvama remains bullish, raises valuation outlook

Brokerage firm Nuvama maintained its ‘Buy’ rating on Blue Dart Express, citing strong quarterly execution and the company’s positioning in the growing e-commerce logistics segment.
According to Nuvama Research, Blue Dart delivered a robust Q1FY27 performance, with revenue growth of 15% YoY, ahead of estimates. The brokerage highlighted that EBITDA margin expanded by 220 basis points YoY to 15.8%, while profit before tax (PBT) margin improved to 7.2% from 4.6% a year ago, reaching the company’s guided medium-term range of 7–8%.
The brokerage noted that profit after tax (PAT) surged 81% YoY to Rs 88.5 crore, significantly exceeding its estimates and consensus expectations. Following the strong quarter, Nuvama raised its FY27E and FY28E earnings per share (EPS) estimates by 4% and 2%, respectively.
Nuvama has retained its ‘Buy’ recommendation, valuing Blue Dart at 38x June 2028 earnings, and revised its June 2027 target price to Rs 7,350 from the earlier Rs 6,900.

The brokerage believes Blue Dart is well positioned to benefit from the ongoing consolidation in the e-commerce parcel market, which contributed around 30–31% of revenue in FY26. At the current market price, the stock trades at approximately 28x FY28E earnings.

With improving margins, sustained revenue growth, and a strong logistics network, Blue Dart remains a key beneficiary of India’s expanding express delivery and e-commerce ecosystem.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Dubai and Doha Fully Open, but Kuwait Remains Limited Amid Conflict

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Dubai International Airport

Air travel across the Middle East continues gradually stabilizing more than five months after the outbreak of the U.S.-Iran conflict severely disrupted one of the world’s busiest aviation corridors, though several major hubs remain constrained by damaged infrastructure, safety advisories and ongoing regional hostilities.

The Iran war triggered widespread airspace closures beginning Feb. 28, when U.S. and Israeli strikes on Iran plunged the region into conflict, grounding tens of thousands of flights and severing key global transit hubs connecting Europe, Asia, Africa and North America. According to travel platform Wego, the resulting grounding of flights and temporary isolation of mega-hubs like Dubai and Doha represented the most disruptive systemic shock to global aviation since the COVID-19 pandemic.

Several major hubs are now operating close to normal levels. The United Arab Emirates, home to Dubai and Abu Dhabi, is described as fully open, according to Wego’s most recent assessment. Saudi Arabia, Qatar, Bahrain and Oman are all described as largely open, though each continues to carry some operational caveats depending on the specific airport and airline involved. Dubai International Airport is running flights across all three of its terminals, and Qatar Airways confirmed earlier this summer that it had restored flights to 85% of its pre-crisis schedule levels.

Kuwait represents the clearest ongoing exception to that broader recovery. Kuwait’s main airport remains not fully operational, according to Newsweek’s assessment of the current situation, with key infrastructure still damaged and some terminals remaining closed. Foreign airlines continue to face restrictions at the airport, and while portions of Kuwaiti airspace have reopened, international routes into and out of the country remain limited compared with pre-conflict levels. Terminal 1, the airport’s primary international facility, has remained closed since suffering significant structural damage, including a partial roof collapse, during a strike in early June, with Kuwait Airways and Jazeera Airways instead operating out of Terminals 4 and 5.

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Even in airspace that is technically classified as open, aviation safety advisories tied to earlier missile, drone or military activity continue to shape how airlines operate throughout much of the region. Regulators and airlines have continued flagging elevated risk across Iran, Iraq and broader Gulf airspace, according to aviation safety tracking service safefly.aero, with some carriers selectively avoiding certain flight paths or reducing service frequencies even where no formal airspace closure remains in place.

The European Union Aviation Safety Agency has maintained some of the most cautious guidance among international regulators. EASA’s Conflict Zone Information Bulletin, most recently extended through Aug. 31, instructs EASA-regulated airlines to avoid flying within the airspace of the UAE, Bahrain, Kuwait and Qatar at any altitude, along with a defined portion of the Gulf of Oman, citing continued risk tied to missile, drone and combat aircraft activity linked to the region’s unstable security situation. That advisory has led numerous major international carriers, including British Airways, Singapore Airlines, Air Canada and members of the Lufthansa Group, to extend their own suspensions of Middle East routes well into the autumn, even as UAE-based carriers such as Emirates, Etihad Airways and flydubai continue operating the substantial majority of their networks.

Other pockets of restriction persist across the broader region as well. Four airports in southern Saudi Arabia were closed by NOTAM earlier this summer after a Houthi missile and drone attack, part of a broader pattern of intermittent strikes and closures that has continued affecting specific airports even as most of the region’s major hubs have returned to largely normal operations. Air traffic routing through the middle of the Gulf has also remained complicated by Kuwait’s ongoing limitations, forcing many international operators to route flights around the country via either a southern corridor through Egypt, Saudi Arabia and Oman, or a more northerly path, according to aviation monitoring group OPSGROUP.

Airlines have continued a gradual, staggered process of restoring previously suspended routes throughout the summer. British Airways resumed flights to Dubai and Doha beginning July 1, while Gulf Air has steadily rebuilt its network following Bahrain’s airspace reopening, restoring service to cities including London, Dubai, Istanbul and Riyadh, with additional routes continuing to phase in through the summer months. Iraqi Airways has similarly resumed both domestic and international operations as part of a broader phased return to service across the region’s national carriers.

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Given how frequently conditions have continued shifting throughout the conflict, travel monitoring services consistently advise passengers to verify their specific flight status directly with their airline before heading to the airport, rather than relying solely on general regional status updates, given how quickly individual route restrictions, terminal closures and safety advisories have continued changing across different countries and airlines throughout the ongoing conflict.

With Kuwait’s main airport still working through infrastructure repairs and several international regulators maintaining cautious advisories through the end of August, the broader Middle East aviation sector appears likely to continue its gradual, uneven recovery in the weeks ahead, even as the region’s largest hubs in Dubai, Doha and Abu Dhabi have largely returned to something closer to their pre-conflict operating tempo.

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Seeen’s 2025 revenue jumps 65% as EBITDA loss narrows

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Minor Earthquake Rattles Hawthorne, California, on Sunday Evening

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Aerial view of Hawthorne

A minor earthquake shook the city of Hawthorne, California, on Sunday evening, according to the U.S. Geological Survey, though no damage or injuries were reported in connection with the tremor.

The magnitude 2.6 quake struck at 8:30 p.m. local time, with its epicenter located less than a mile from the neighboring communities of Gardena, Inglewood and Westmont, all situated within the greater Los Angeles area. Seismologists recorded the earthquake’s origin at a depth of 6.5 miles below the surface, according to USGS data.

Earthquakes of this magnitude are common across Southern California, a region crossed by numerous active fault systems, including segments of the broader San Andreas Fault network that runs through much of the state. The USGS estimates that Southern California experiences thousands of earthquakes each year, though the vast majority are too small to be felt by residents without sensitive seismic instruments. Quakes in the magnitude 2.5 to 3.0 range, like Sunday’s tremor near Hawthorne, are generally on the threshold of what a person standing near the epicenter might notice, often described as a brief jolt or vibration rather than significant shaking.

Hawthorne and the surrounding South Bay area of Los Angeles County have experienced similar small earthquakes in the past without resulting in damage. The USGS operates a real-time earthquake monitoring system that tracks seismic activity across the country, publishing data within minutes of a quake’s occurrence and inviting residents who felt shaking to submit reports through its “Did You Feel It?” online tool, which helps researchers map the extent and intensity of ground motion associated with a given event.

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Sunday’s earthquake was one of several recorded across California in recent days, part of the routine background seismicity that characterizes the state. In the weeks prior, the USGS logged a magnitude 4.3 earthquake near California City on July 13 and a magnitude 4.1 quake near Frazier Park on July 12, both considerably stronger than Sunday’s Hawthorne tremor but still within the range of earthquakes that typically cause little to no damage. Larger, more damaging earthquakes in the magnitude 5.5 and above range remain comparatively rare events, though seismologists have long cautioned that Southern California remains overdue for a major rupture along sections of the San Andreas Fault, based on historical recurrence intervals.

No tsunami warning was issued in connection with Sunday’s earthquake, and the USGS did not report any immediate aftershock activity following the initial tremor. Local emergency services in Hawthorne and the surrounding communities did not report receiving calls related to damage or injuries stemming from the quake.

Residents throughout the greater Los Angeles area are routinely encouraged by California emergency management officials to maintain basic earthquake preparedness measures, including securing heavy furniture, keeping emergency supplies on hand, and staying familiar with the standard “drop, cover and hold on” response recommended during shaking, given the region’s ongoing exposure to both minor and, less frequently, more significant seismic activity.

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Rolls-Royce: Strong Aviation, AI, And Energy Growth Make It A Buy

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Rolls-Royce: Strong Aviation, AI, And Energy Growth Make It A Buy

This article was written by

Dhierin-Perkash Bechai is an aerospace, defense and airline analyst.
Dhierin runs the investing group The Aerospace Forum, whose goal is to discover investment opportunities in the aerospace, defense and airline industry. With a background in aerospace engineering, he provides analysis of a complex industry with significant growth prospects, and offers context to developments as they occur, describing how they might affect investment theses. His investing ideas are driven by data informed analysis. The investing group also provides direct access to data analytics monitors.
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Hercules Capital: Strong Growth But Valuation Leaves Little Room For Error (NYSE:HTGC)

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Hercules Capital: Strong Growth But Valuation Leaves Little Room For Error (NYSE:HTGC)

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I’m a passionate investor from the Netherlands with 12 years of stock market experience. My articles usually contain a good overview of important investment criteria. A stock for my portfolio is of interest to me if the company has the following characteristics:1. Companies that are growing in both revenue, earnings and free cash flow.2. Companies that have excellent growth prospects.3. Stocks with favorable valuations.I prefer steadily growing companies with high free cash flow margins, dividend stocks and stocks with generous share repurchase programs.Disclaimer: My articles do not provide financial advice, they reflect my own findings and insights.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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