🚨 The ASX 200 is in turmoil today, and it’s not just a blip—it’s a full-blown resource sector meltdown. But here's where it gets controversial: while blue-chip defensives are holding steady, gold, lithium, and defense stocks are taking a nosedive. Is this a buying opportunity or a sign of deeper troubles? Let’s dive in.
Welcome to our live ASX coverage for Wednesday, November 5th. We’re thrilled to pilot this new format, offering a high volume of pre-market insights and periodic updates throughout the day. Today’s live blog wraps up at 2:00 pm AEDT. Don’t forget to refresh for the latest updates, and share your thoughts on how we can improve (https://surveys.hotjar.com/58578fe2-a49e-4faf-9594-3a926a54cd03).
Resources in Freefall
[12:49 pm] The resource sector is bleeding today, with nearly every subsector trading sharply lower. Here’s a snapshot of the carnage:
- Iron Ore: Fenix Resources (-9.7%), Fortescue (-3.8%), MinRes (-3.5%), Rio Tinto (-2.4%), BHP (-1.0%)
- Copper: Aeris Resources (-15.0%), 29Metals (-11.8%), Firefly Metals (-7.4%), Capstone Copper (-6.4%), Sandfire Resources (-3.4%)
- Gold: St Barbara (-10.1%), Resolute Mining (-8.3%), Meeka Metals (-7.1%), Aurelia Metals (-8.5%), Black Cat Syndicate (-6.8%)
- Uranium: Alligator Energy (-10.7%), Peninsula Energy (-9.4%), Paladin Energy (-8.5%), Bannerman Energy (-7.5%)
- Critical Metals: Brazilian Rare Earths (-14.3%), Arafura Rare Earths (-11.3%), Australian Strategic Metals (-10.8%)
And this is the part most people miss: While the sell-off is broad, it’s not uniform. Some stocks are down due to global price pressures, while others are facing company-specific challenges. For instance, is the drop in gold miners purely due to overnight price falls, or are there deeper operational issues at play? Let’s explore.
A Heavy Day for Equities
[12:47 pm] Stocks are taking a beating today, with the S&P/ASX Emerging Companies Index down 4.6% and hovering near intraday lows. The index is now down 14% since its October 14th high, slicing through the 50-day moving average. Volatile times ahead—but is this a correction or the start of a bear market? Share your thoughts below.
Top ASX 200 Gainers and Losers
[11:38 am] Blue-chip defensives like Brambles (+2.20%) and Medibank (+1.96%) are holding up, but gold, lithium, and defense stocks are getting hammered. Resolute Mining (-9.66%) and Paladin Energy (-8.07%) are among the biggest losers. Is this a sector-wide crisis, or are investors simply rotating out of riskier assets? Let’s discuss.
Australian Industry Index Improves
[11:29 am] The Australian Industry Index rose 4.2 points to -11.2 in October, its highest in over a year. Key takeaways:
- Employment indicators are neutral for the first time in 18 months, thanks to improved labor supply in construction.
- Manufacturing is weakening, especially in metals, due to high energy prices and global trade headwinds.
- Pricing pressures are easing, but is this enough to offset rising costs? Let’s debate.
Carma Flops on ASX Debut
[11:08 am] Carma, the used vehicle platform, debuted at $2.53, below its $2.70 offer price. The company is loss-making but forecasts 78% revenue growth in FY25-26. Is this a growth story worth betting on, or are investors right to be skeptical? Share your take.
ASX 200 Tries to Bounce, But Miners Weigh
[10:30 am] The ASX 200 is down 0.26% as resource stocks drag on the index. Iron ore, gold, and copper miners are all under pressure. Is this a buying opportunity, or is the sector headed for a prolonged downturn? Let’s hear your opinions.
Goodman Group’s Data Center Focus
[10:26 am] Goodman Group is doubling down on data centers, projecting they’ll represent over 75% of its $17.5 billion+ development workbook by June 2026. Is this a smart bet on the AI boom, or is the company overextending itself? Join the discussion.
Nanosonics Launches Buyback
[9:51 am] Nanosonics is launching a $20 million on-market buyback, signaling confidence in its long-term growth. But with a $1.37 billion market cap, is this move material enough to move the needle? Let’s analyze.
Copper Prices Dip
[9:49 am] Copper prices fell 2.4% overnight, dragging the Copper Miners ETF (COPX) down 3.7%. Is this a temporary pullback or the start of a broader commodities downturn? Share your insights.
Hansen Technologies Acquires Digitalk
[9:35 am] Hansen Technologies acquired Digitalk for £33.1 million, a 10x EV/EBITDA multiple. Is this a smart strategic move, or is Hansen overpaying? Let’s debate.
Woodside’s Ambitious Growth Plans
[9:28 am] Woodside is projecting $9 billion in net operating cash by the early 2030s, with a 50% dividend increase by 2032. But with oil and gas prices volatile, is this forecast too optimistic? Share your thoughts.
Final Thoughts
Today’s ASX action is a mix of sector-specific challenges and broader market jitters. From resource sector meltdowns to ambitious growth projections, there’s no shortage of debate topics. What’s your take on today’s biggest stories? Are we headed for a correction, or is this just a bump in the road? Let’s keep the conversation going in the comments!
