ASX 200 Live Today - Friday, 28 November
The S&P/ASX 200 is set to open lower.
Today’s ASX 200 Updates
Welcome to our live ASX coverage for Friday November 28. We’re excited to be trialing this new format. Expect a high volume of posts pre-market and more periodic updates throughout the day. Be sure to refresh manually for the latest updates — and let us know how we can make it even better.
ASX 200 shakes off losses (for now), lithium stocks rocket
[11:53 am] Technology, staples, gold are doing the heavy lifting this morning, offsetting the decliners and nudging the ASX higher.
But peel back the headline index moves and a more interesting story emerges. Some of the biggest movers are in critical minerals and lithium. Ladies and gentlemen, it looks like that trade is starting to heat up again.
The stocks grabbing this small cap investor's attention
[11:45 am] A series of unusual moves on the ASX this week highlighted several disconnects between price action and fundamentals.
A late-afternoon trading update attracted little market attention despite strong numbers, a small contract announcement triggered a rally that added more than $200 million in market value, and several pockets of value re-emerged following the recent pullback.
In a new Q&A, Ben Richards of Seneca Financial Solutions outlines the key developments: the overlooked update pointing to stronger operating performance, the mispricing created by broad market weakness, the renewed takeover activity in the healthcare sector, and the behavioural signals he considers most reliable when sentiment moves sharply.
The piece offers a concise overview of where notable gaps appeared between market reaction and underlying data.
ASX laggards this morning
[10:27 am] A couple of stocks are getting whacked this morning.
Suncorp (SUN) is down 3.02% to $17.66. Investors weren’t impressed by the announcement of a $350 million claims hit from hail and wind damage following the severe storms across southeast Queensland and northern NSW.
Adding to the pressure, JPMorgan downgraded the stock from Overweight to Neutral and cut its price target from $21.20 to $20.00.
DroneShield (DRO) is down 2.25% to $1.95. Sentiment remains fragile after recent controversies, and the market appears hesitant to deploy fresh capital into the name for now.
ASX leaders this morning
[10:15 am] Despite the broader ASX trading lower this morning, a few names are off to a strong start:
WiseTech Global (WTC) up 3.13% to $71.90
Woolworths (WOW) up 2.82% to $29.20
Life360 (360) gaining 2.69% to $40.45
Technology and consumer staples are leading sector performance so far. Woolworths is particularly notable — Bell Potter flagged it as a buying opportunity in early November, arguing the stock had absorbed enough bad news and now offered relative value, especially compared to Coles.
Good morning!
[9:50 am] ASX 200 futures are down 27pts (-0.31%) as of 9:50 am AEDT.
This is despite global equities continuing to recover, with the MSCI All Country World Index rising for a fifth straight session and trimming its November loss from nearly 4% to just 0.4%.
European and Asian markets saw modest moves overnight, while S&P 500 futures were flat due to the US holiday, and Canada's TSX notched a third consecutive record high. India's Bombay SENSEX also advanced to a new record.
Risk appetite is picking up: Bitcoin climbed back above $91,000, while gold held steady and the US dollar halted its recent slide.
If you’re new to the blog – catch up quick via today’s Morning Wrap.
