Market Close 28 Jan 25: Aussie market resilient despite US tech tumble

Aussie stocks showed resilience today, despite a sharp sell-off in U.S. tech markets, where Nvidia's 17% plunge wiped $600 billion off its value. A Chinese startup, DeepSeek, disrupted the AI space with a cheaper, competitive chatbot, rattling global tech stocks and related sectors like energy. However, Australia’s smaller tech sector shielded local stocks from heavy losses. Energy and property sectors lagged, with Goodman Group sliding 8% due to concerns over its data centre investments. Winners included Sigma Healthcare, soaring 14%, and Telix Pharmaceuticals, climbing 3% on a U.S. expansion move. All eyes now turn to tomorrow’s quarterly inflation data, crucial for shaping RBA interest rate expectations ahead of a potential February cut. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

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