FEAR & GREED | Business News Afternoon Report | ASX soars
Mar 25, 2026
Markets surge as the ASX jumps on softer inflation and global peace hopes. Materials and gold rally while energy stocks slide with falling oil. Airline networks shrink as Jetstar cuts Tasman and NZ services amid rising fuel costs. Major ABC staff strike disrupts programming. Japan warns a potential LNG windfall tax could deter investment. Siri set for a big AI makeover.
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Softer Inflation and Peace Talks Fueled ASX Rally
- The ASX 200 jumped 1.9% as softer-than-expected Australian inflation and reduced Middle East oil fears drove a $55 billion rally.
- Materials led with a 4.4% gain, gold miners surged (Newmont +9%, Bellevue Gold +11%) as gold neared $4,600/oz.
Japan Says LNG Windfall Tax Would Scare Investors
- Japan warned a proposed 25% windfall tax on LNG exports would be a bad surprise and risk diverting Japanese investment overseas.
- Ambassador Kazuhiro Suzuki said retrospective changes weaken confidence and signalled Japan wouldn't favor a two-way Australia-Japan oil-for-LNG guarantee deal.
Jet Fuel Surge Forces Jetstar To Cut Flights
- Jetstar cut 12% of Tasman and domestic New Zealand flights as surging jet fuel costs hit demand and airline economics.
- The cuts join wider industry moves including Qantas and Virgin lifting fares ~5% and major international schedule reductions.