Pulse

ASX 200 9,011 Mon +0.1% — flat open to the week; US shut Monday (Labor Day)

Energy led on oil premium: WDS +1.6%, STO +1.7%; BHP 62.93 +1.1%, FMG 17.77 +3.2%, CBA 161.54 +0.7%

Tech lagged: XRO −3.9%, WTC −3.8%

Uranium held: BOE 1.535 +2.7%, PDN 11.71 flat, DYL 1.665 flat

AUDUSD 0.7220

HK tech gave back Friday's rally Mon: 3690 80.05 −2.1%, 1810 27.50 −3.3%, 9988 109.6 −0.5%, 0700 438.4 −1.0%

Wall St shut Monday; Friday tape: SPY 770.19 −0.4%, QQQ 718.96 +0.2%, TSLA 354.08 −5.9%, NVDA 230.36 +0.8%

GLD 406.77 −0.8% Fri; gold 4,476.6 Mon (−1.4% Fri) on strong jobs + rate-hike bets; TLT 82.21 flat

WTI 91.48 — Hormuz escalation premium

US–Iran tit-for-tat strikes hit Hormuz shipping over the weekend — oil bid, risk tone cautious

Strong US payrolls lifted rate-hike bets — gold sold, yields firmed

China Aug CPI/PPI + trade data this week; RBA hike chatter alive after strong Q2 GDP

US reopens Tuesday; watch TSLA follow-through after −5.9% Friday

ASX energy the only clean bid; materials split — FMG strong, BHP modest follow-through

Uranium complex still holding its uptrend; dips shallow so far

HK tech round-tripped Friday's push; needs a stabilise day before trusting the bid

Oil/geopolitics tailwind vs China data risk — expect a choppy week, position light