Afternoon Report | ASX finishes lower
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Why did the ASX 200 close lower and which sectors led the decline?
Welcome to the Fear and Greed Business News Afternoon Report for Friday, the 25th of September, 2026. I'm Sean Aylmer. Every afternoon, we've got the five stories that happened today that you need to know about. Story number one, the S&P ASX 200 closed down nearly half a percent today to 8,665 points. The market opened lower and didn't move much all day. Nine of the 11 sub indices were down, led by tech and consumer discretionary. Best were consumer staples and financials. Basically, the banks and energy companies were in the black while the big miners lost ground. The drops came after oil rose above $107 a barrel overnight and global bond yields spiked. For the week, the market's down a little under 1%.
What caused NetWealth shares to tumble 8% today?
The big mover today, though, was NetWealth, which closed down 8% following the company's announcement that it would defend the class action from jilted customers after it was served with a claim of the $460 million failure of the first Guardian Master Fund. Story number two, Prime Minister Anthony Albanese has warned that the weakening of the global rules-based order poses a particular threat to countries like Australia, which cannot rely on sheer power to protect their interests. Addressing the UN General Assembly this morning, Albanese argued that small and middle powers depend on international law, sovereignty and rules governing everything from security to trade. Australia is campaigning for a 2029 30 seat on the UN Security Council, saying it would use the position to amplify the voices of smaller nations.
Albanese also called for reform of the UN system as tensions between major powers increasingly hamper international cooperation. The economic implications matter for Australia. I mean, prosperity relies heavily on open trade here. Freedom of navigation, predictable international rules, that type of thing. Story number three, two interest rate hikes in Australia are looking increasingly likely. NAB today said two rate hikes were very possible.
How is Australia’s push for a UN Security Council seat affecting its foreign policy?
They said three was too many. I agree. HSBC chief economist Paul Bloxham expects two more rate hikes. He said the risk of a recession in Australia is rising, but stubborn inflation will push the RBA to hike rates nonetheless. The central bank has already lifted rates three times this year. It's expected to do so again on Tuesday. Story number four, Star Entertainment. We'll have to wait at least another six months to regain control of its Queensland casinos. After fresh governance concerns derailed plans to loosen regulatory oversight, Special Manager Nick Weeks initially argued there was a credible case for Star to regain control of its Gold Coast and Brisbane operations. And then he changed his mind.
Why are two more interest‑rate hikes now considered likely in Australia?
Queensland has now delayed the possible suspension of Star Gold's license until the end of March. The news wasn't any better in Sydney, with the Star Entertainment Group's license in Sydney suspended for that casino until June next year, giving Nick Weeks another nine months to review the troubled gaming group's operations. And story number five. It was lavish. It was the dinner attended by US President Donald Trump and Chinese President Xi Jinping at the White House. Both leaders touted a new chapter in their friendship. Their arrival was marked, however, by protesters loudly shouting from just outside the White House gates, some of whom were arrested. Both Trump and Xi praised one another. pledging to continue talks to ensure stability between their two nations.
But experts say that not much concrete has been yielded in talks so far.
What’s the latest on Star Entertainment’s casino licences and future outlook?
The dinner was attended by a bunch of business leaders, many of them billionaires, people like OpenAI boss Sam Altman, Amazon's Jeff Bezos, Meta's Mark Zuckerberg, NVIDIA's Jensen Huang, Apple's Tim Cook, Elon Musk was there, Alphabet's Sergey Brin. Satya Nadella from Microsoft and Google's Sundar Pichai. Yeah, everyone seemed to be there. That's it for the afternoon report for Friday, the 25th of September, 2026. Make sure you're following the podcast and head along to fearandgreed.com.au to sign up for our free daily newsletter.
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Chapters
5 chapters
1
Why did the ASX 200 close lower and which sectors led the decline?
0:03–0:47
2
What caused NetWealth shares to tumble 8% today?
0:47–2:00
3
How is Australia’s push for a UN Security Council seat affecting its foreign policy?
2:00–2:41
4
Why are two more interest‑rate hikes now considered likely in Australia?
2:41–3:34
5
What’s the latest on Star Entertainment’s casino licences and future outlook?
3:34–4:10
Speakers
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