FEAR & GREED | Business News Afternoon Report | ASX tumbles 1.4pc
5 snips
Nov 17, 2025 The market faced a downturn, with the ASX tumbling by 1.4%. Property auction activity surged to its highest levels since March, supported by low listings. A significant gas discovery off the Victorian coast promises to boost east coast supplies. Cybersecurity takes center stage as a new AI-driven phishing campaign targets vulnerable Australians. In political news, Trump is pressing for the release of Epstein files, stirring up investigations. Tune in for a quick dive into these hot topics!
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Markets Pause Ahead Of US Data
- The ASX finished essentially flat as investors awaited the backlog of US economic data after the government shutdown.
- Local large caps were mixed with CBA down 1% and BHP pressured by legal liability news about the 2015 Samarco dam collapse.
Strong Auctions Despite Rate Uncertainty
- Auction activity hit its busiest week since March with strong clearance rates around 70% despite fading hopes of rate cuts.
- Low listings (about 18% below average) are supporting prices and average bidders per auction have risen year-on-year.
Major Gas Find Off Victoria
- ConocoPhillips found significant gas in the Otway Basin about 50km offshore, near existing production wells.
- The find could ease east coast gas pressure and sent junior partner 3D Energy shares up over 50%.