Market update: 3 March 2026
Australian equities moved higher this week, with the ASX 200 rising 1.3%. A continued global rotation away from tech and into non tech sectors helped support local markets, alongside a rebound in corporate profits. Gains were led by miners, consumer staples, IT and telecommunications, while falling bond yields added further support. Stronger profits, particularly from miners and banks, helped the market outperform global peers despite elevated valuations and ongoing hawkishness from the RBA.
US equities ended lower, with the Nasdaq down 1.0%, the S&P 500 falling 0.4% and the Dow declining 1.3%. Sentiment was weighed down by the reinstatement of tariffs, renewed concerns about AI disruption and a market selloff linked to Citrini Research’s “2028 Global Intelligence Crisis” article. This came despite strong earnings from NVIDIA. Significant capital raises from OpenAI and Anthropic highlighted the scale of investment flowing into artificial intelligence. Hotter producer inflation and weaker factory orders added to broader macro uncertainty.
European equities advanced, with the STOXX 600 rising 0.5% to a new high. Strong earnings and investor diversification away from US tech offset geopolitical and tariff concerns. In Germany, business sentiment improved for a second consecutive month, while French business confidence softened as manufacturing conditions weakened. Inflation data across the eurozone were mixed, with prices easing in Germany but firming slightly in France and Spain.
Japan’s Nikkei climbed 3.6% to record highs as optimism around the policy outlook under Prime Minister Takaichi outweighed tariff concerns. The yen weakened into the mid 156 range following the nomination of two dovish economists to the Bank of Japan Board, reinforcing expectations of a gradual policy path.
Greater China markets also moved higher, with the Shanghai Composite up 2.0% and the Hang Seng rising 0.8%. Sentiment improved ahead of the upcoming Two Sessions. The People’s Bank of China cut the FX forward risk reserve ratio to zero in an effort to temper rapid renminbi appreciation and maintain currency stability.
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This blog has been issued by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) as Responsible Entity of the Raiz Invest Australia Fund (ARSN 607 533 022) and has been prepared without taking into account your objectives, financial situation or needs. Before acting on such information, you should conduct your own review or consult a financial advisor before making a decision to invest. Please read the relevant Product Disclosure Statement and any associated reference documents before making an investment decision. In accordance with the Design and Distributions Obligations, we maintain Target Market Determinations for our Funds. All documents can be found on the Raiz website www.raizinvest.com.au, or calling the Customer Support team on 1300 754 748. Please note that past performance is not a reliable indicator or guarantee of future performance. Historical returns, forecasts, and market commentary are provided for general informational purposes only. All investment carries risk and may result in loss of capital.
