ASX 200 climbs, PEXA shares sink 18% after results

28. Aug 2026

(AWP Alliance News) - Stocks in Sydney recorded gains earlier with technology names among the best performers in the session while equity markets generally followed Wall Street higher across the broader Asia Pacific region.

The S&P/ASX 200 was up 31.80 points, 0.4%, at 9,070.00 on Friday afternoon.

Several technology stocks were trading notably higher.

Shares in Xero jumped 7.7%, while Technology One rose 5.3% and WiseTech Global climbed 4.8%.

PEXA shares plummeted 18%.

The digital property settlement firm said net loss narrowed to AUD15.9 million in the financial year ended June 30, approximately USD11.4 million, from AUD76.1 million in the previous year.

However, PEXA swung to a profit from continuing operations of AUD19.2 million.

"PEXA enters FY27 with a strong balance sheet, positioning the group well to navigate an uncertain economic environment in Australia that is expected to dampen property transaction volumes, and in turn revenue and margins in FY27," the company said.

Large-cap miners were mixed on Friday.

Rio Tinto edged down 0.9%, South 32 traded flat, BHP and Newmont gained 0.9%, while Fortescue rose 0.8%.

Westgold Resources was up 1.3%.

The gold mining and exploration company said underlying net profit after tax multiplied to AUD480 million in financial year 2026 from AUD87 million a year ago as revenue surged 79% to AUD2.44 billion.

Westgold reported a 19% increase in gold production at 387,354 ounces, while gold sales rose 26% to 390,358 ounces.

Westgold also extended its share buyback programme to September 10, 2027, with a further AUD50 million in shares to be repurchased.

Evolution Mining fell 0.6%.

Gold miner Evolution Mining has become the largest shareholder in Carnaby Resources after acquiring a 13.7% stake in the gold and copper exploration and development company from QIC Queensland Critical Mineral Fund.

In accordance with a scheme of arrangement announced in late July, Evolution intends to acquire 100% of Carnaby.

"The scheme remains on track, with implementation targeted for November 2026," Evolution said.

Consumer staples weighed on the index.

Coles fell 1.7%, Woolworths was down 1.3%, Treasury Wine Estates fell 0.5%, Inghams lost 0.2%.

Harvey Norman declined 1.9%.

The retailer said profit after tax and non-controlling interests rose 2.0% to AUD528.5 million in financial year 2026.

Chair Gerry Harvey said: "The full-year sales result reflects a strong first half and a resilient performance across the Harvey Norman brands as retail conditions became more variable during the second half. Disciplined cost management and sales growth enabled us to absorb inflationary pressures and continue to invest in our expansion initiatives."

Harvey Norman cut its final dividend by 10% to 13.0 Australian cents per share, but the total dividend was lifted by 3.8% to 27.5 cents per share.

Virgin Australia shares dropped 3.6% after the airline declared it first dividend since re-listing on the Australian Securities Exchange in 2025, with stockholders receiving 7.6 Australian cents per share.

Virgin Australia further announced that attributable profit rose 4.7% to AUD501.2 million in financial year 2026 while basic earnings per share rose 1.8% to 66.6 cents.

Revenue climbed 9.3% to AUD6.35 billion.

Around midday in Tokyo, the Nikkei 225 was up 550.91 points, 0.8%, at 66,682.88 on Friday.

Seven & I contrasted with the wider trend as shares fell 1.2%.

Fujitsu was among the top gainers in the Nikkei 225 with shares up 4.5%, while Recruit Holdings rose 3.7% and Nintendo gained 3.2%.

According to new figures from the Statistics Bureau of Japan, the jobless rate in Japan fell to 2.4% in July from 2.5% in June. A flat reading was expected based on the FXStreet-cited consensus forecast.

In China, the Shanghai Composite was up 5.12 points, 0.1%, at 3,961.69. The Hang Seng in Hong Kong was up 107.42 points, 0.4%, at 25,673.16. The FTSE TWSE Taiwan 50 Index was up 454.60 points, 1.1%, at 42,850.11.

In Seoul, the Kospi fell 76.98 points, 1.1%, at 6,836.29. In Singapore, the Straits Times Index was up 11.17 points, 0.2%, at 5,695.29. Over in Mumbai, the Nifty 50 closed down 116.90 points, 0.5%, at 24,090.85 on Thursday.

After Washington recently scaled back annual drills with Seoul, South Korean officials have announced plans to hold joint military exercises with the US and Japan in September.

"This exercise is a defensive drill conducted annually by the three countries to respond to North Korea's nuclear and missile threats and safeguard peace and stability in the region," the Joint Chiefs of Staff said in a statement.

Brent oil was quoted up at USD88.29 a barrel early in London on Friday from USD86.12 around the same time a day earlier. West Texas Intermediate rose to USD83.22 a barrel from USD81.46.

Gold was quoted down at USD4,583.20 an ounce against USD4,630.22.

The dollar strengthened slightly against the yuan to CNY6.7213 from CNY6.7207 and against the yen to JPY159.44 from JPY159.33. But the dollar weakened against the Australian dollar to AUD1.3883 from AUD1.3919.

The euro weakened to USD1.1647 from USD1.1655, and the pound weakened to USD1.3589 from USD1.3591.

"The dollar remains strangely unmoved overnight despite the prospect of higher US rates, suggesting that elevated yields alone are no longer enough to generate unquestioned confidence in the currency," said Stephen Innes, global strategist for Quintex Intel.

The yield on the US 10-year Treasury was quoted at 4.68%, widening from 4.65%. The yield on the US 30-year Treasury was quoted at 5.20%, widening from 5.17%.

In the US on Thursday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.2%, the S&P 500 up 0.7% and the Nasdaq Composite up 1.6%.

IG says futures indicate London's FTSE 100 is to open 0.2% higher on Friday, while Frankfurt's DAX 40 and the CAC 40 in Paris are on track to rise 0.4%.

Still to come on Friday's economic events calendar are industrial production figures for India and Japan will report consumer confidence. Over in the US, the Michigan consumer sentiment index and Chicago purchasing managers' index are also due.

By Elijah Dale, Alliance News senior reporter Asia-Pacific

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