The ASX 200 recovered well, closing down only 55 points at 8461 (0.7%), still looking at the worst month since Covid. Banks and industrials were hit hard with CBA down % and WBC off %. The Big Bank Basket fell to $284.96 (-2.7%). MQG dropped 1.0% and other financials were weaker, SUN finished off 1.8%. REITs too suffered with GMG down 1.4% and SCG falling 1.2%. Healthcare also weaker, RMD down 0.9% and CSL off another 1.7%. Tech smashed again, WTC down 4.8% and XRO falling 3.2%. The All-Tech Index fell 2.8%. Supermarkets closed higher and TLS held firm, although retail stocks weakened. JBH down 3.4% and ALL down 2.6%. Travel stocks also falling QAN off 2.0% and FLT falling 4.4%.

In resources, BHP held firm, RIO rallied 4.9% and FMG up 1.8% with gold miners finding support. Lithium stocks also firm on EV sales picking up, PLS up 2.3%. Oil and gas stocks better, KAR hit highs on a board reshuffle, WDS up 2.2% and coal stocks also rising strongly. Uranium stocks finding friends too. AAI soared 8.6% on news that two producers in the Middle East were hit.

In corporate news, KMD remains suspended, AMP announced a $150m buyback late Friday. WJL saw its CEO resign and DRO announced the opening of a European HQ.

Asian markets slumped then fought back, Japan down 3.0%, HK off 0.9% and China up 0.1%.

10 -year yields fell to 5.06%

US Futures flat.

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