Sydney, March 19, 2026, 04:46 AEDT
Wednesday saw Australia’s S&P/ASX 200 finish 0.31% higher at 8,640.60, gaining 26.30 points by the close.
This shift landed just a day after the Reserve Bank of Australia bumped its cash rate up by 25 basis points—so, a quarter point—to 4.1%, passing in a narrow 5-4 split. It also arrived only hours before the U.S. Federal Reserve’s decision, expected later Thursday in Sydney. Westpac chief economist Luci Ellis flagged that a second move in May looks “less certain” now, hinging heavily on developments in the Middle East. Reuters
Market Index flagged in intraday notes that buyers zeroed in on rate-sensitive pockets—tech, utilities, real estate—while Australia’s 10-year yield drifted roughly 5 basis points lower and Brent crude edged down to around $101.70 a barrel during local hours.
Real estate posted a 1.1% gain by the end of the session, and utilities climbed 0.9%. Energy wasn’t far behind, adding 0.7%. Tech names moved higher too: NEXTDC jumped 3.7%, Xero tacked on 2.3%. Healthcare lagged, marking the day’s only sector loss.
BHP shares climbed 0.9% by Wednesday afternoon after the miner tapped Brandon Craig as its incoming chief executive. Over at Rio Tinto, leadership remains relatively fresh, with less than a year since its own CEO shift. Andy Forster of Argo Investments described Craig as “super impressive”. For his part, Craig said BHP would only look at deals that are “incredibly compelling” compared with its current growth plans. Reuters
Woodside tapped Liz Westcott as its permanent CEO, a move announced as the company faces a more subdued production forecast for 2026 and weighs critical project calls. RBC Capital Markets’ Gordon Ramsay labeled the choice “low-risk.” For her part, Westcott called 2026 a “big year of delivery.” Reuters
The rebound, though, showed signs of strain. Oil finished Tuesday up 3.2% at $103.42 a barrel after fresh Iranian strikes on the United Arab Emirates. IG analyst Tony Sycamore flagged in a note that “the risks remain stark” if the conflict spills over to disrupt the Strait of Hormuz—a chokepoint for roughly a fifth of the world’s oil and LNG flows. Reuters
Later in global markets, that threat re-emerged. Brent surged, reaching $108.51 after a strike on Iran’s Pars gas field. U.S. producer prices posted a 0.7% jump in February. Jim Baird at Plante Moran called the chance of a “second surge in inflation” more tangible now, so investors are watching the Fed closely for clues on rates and risk appetite. Reuters
