FEAR & GREED | Business News Afternoon Report | ASX dips, but ends August higher
Aug 29, 2025
Markets experienced a slight dip, but August closed on a high note. Harvey Norman saw impressive growth, while Virgin Australia announced its first profit amid customer frustration over flight issues. China honored former Australian Labor Premiers during a military parade, showcasing shifting political ties. Tensions rose as Australia Post faced backlash over parcel policies, and Trump made headlines by dismissing the CDC director amidst ongoing vaccine controversies.
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Markets End Month Positive
- The ASX 200 finished the day almost flat but closed August up 2.6% after four consecutive weekly gains.
- Harvey Norman and Austell drove moves, while tech (Next DC) and banks showed notable divergence.
Harvey Norman Outperforms Expectations
- Harvey Norman beat expectations on strong in-store sales and successful overseas expansion.
- Its booming property portfolio also boosted investor enthusiasm and the share price climbed over 10%.
Virgin Posts Strong Relisting Results
- Virgin Australia's first results since relisting showed profit up 28% to $664 million driven by revenue and cost control.
- The airline will cancel $93 million in unused pandemic flight credits, a controversial move that echoes Qantas's earlier attempt.