Sydney, Feb 28, 2026, 04:24 AEDT — Market closed.
Australian stocks wrapped up Friday at a fresh all-time high, as the Sydney market closed out the week. Miners gave the index a lift, offsetting sharp drops in some retailers. The S&P/ASX 200 gained 23 points to settle at 9,198.60, up 0.25%. “The rotation from tech to non-tech continues,” AMP’s Shane Oliver noted in his weekly commentary. ABC News
The ASX 200 just wrapped its strongest February run since 2019, gaining 3.5% for the month and peaking at 9,202.90 as a wave of earnings outshined lingering rate concerns. Buyers stayed active, but Craig Sidney, senior investment adviser at Shaw and Partners, flagged the risk of a pullback. He cited high valuations, slimmer dividend yields, and the usual pressure as stocks go ex-dividend, making them less attractive to new holders.
Rate bets are clouded by fresh data. Australia’s January CPI rose 0.4% from December, holding annual inflation steady at 3.8%. The trimmed mean, which strips out outliers, ticked up to 3.4%—still above the Reserve Bank’s 2%-3% comfort zone. RBA Governor Michele Bullock, speaking this week, called policy decisions “more difficult” these days and urged patience. Reuters
The ASX 200 punched through the 9,200 mark for the first time on Thursday, setting another record. Miners, healthcare names, and a sharp move higher in tech led the charge. “Miners are still enjoying strong earnings momentum,” said Jun Bei Liu, portfolio manager at Ten Cap. She also flagged that money’s shifting out of growth stocks. Indo Premier
Friday saw financials under pressure, banks pulling the sector lower as investors kept circling around valuation issues on the leading names instead of piling in.
Consumer staples didn’t escape the pressure. Coles tumbled 7.4% after its half-year profit dropped 11% and management warned of stiffer rivalry from Woolworths as shoppers grow more price-sensitive, dragging the entire staples sector lower.
Miners moved higher, bucking the broader trend. Gold stocks did some heavy lifting, as firmer commodity prices and some upbeat earnings in the sector kept buyers interested. Block’s local shares shot up 27.8%. The payments company announced plans to cut its workforce by almost half, aiming to streamline for an AI-driven shakeup.
Currency action looms in the background Monday. By late Friday, the Australian dollar hovered near $0.7106, chalking up a roughly 2% gain for February as traders bet the RBA could remain among the more hawkish major central banks. “It is conceivable that the Aussie dollar can put on one or two more (U.S.) cents from here,” said Carol Kong, currency strategist at Commonwealth Bank of Australia. Investing.com Australia
Still, with stocks at records, there’s barely any cushion for disappointment. Should growth stay solid but inflation refuse to budge, rate expectations might tighten in a hurry—driving bond yields higher and hitting the sectors most exposed to rates.
Thursday brings the next local event to watch: national accounts. Australia’s December-quarter GDP is set for release on March 5 at 11:30 a.m. AEDT. Traders are scanning for evidence of a slowdown — anything that could dial down the pressure in the rate debate.
Next up, all eyes turn to the Reserve Bank of Australia’s Monetary Policy Board, set to meet March 16–17. Investors will be parsing every word—looking for any tilt toward inflation worries, or signs the board sticks with its trademark patience.
