ASX ends higher as tech stocks rebound; Westpac, Cleanaway slip on Middle East impacts

The news: The Australian sharemarket ended higher as tech companies rebounded from an extended selloff. The benchmark ASX 200 index rose 0.5% to 8,970.8, with six of the 11 sectoral indices in positive territory.

Biggest movers:

• Westpac (-2.6%) — Revised its economic outlook due to the initial impacts of the Middle East conflict and increased its credit provisions for the first-half period to cover potential future losses.
• Block (+5.5%) — Led a rebound by tech stocks, as the segment rose 3.4% and paced sectoral gains. Megaport (+4.5%), NextDC (+4.3%) and WiseTech Global (+3.8%) also rallied.

Other news:

• Qantas (-0.3%) — Said it will reduce its domestic capacity by 5% in the fourth quarter and adjust international routes to mitigate elevated jet fuel prices.
• Cleanaway Waste Management (-2.6%) — Cut its FY26 earnings guidance, citing higher fuel and third-party logistics costs and decreased activity in its contract resources business in the Middle East.
• Humm Group (+2.4%) — Founder and former chair Andrew Abercrombie has been granted a stay on Takeovers Panel orders to divest around $9.6 million worth of shares as the panel considers his review application.

What’s ahead:

• The US Bureau of Labor Statistics will release monthly producer price index figures at 10:30pm AEST.