Pulse

ASX200 8731, flat into Monday open after Friday's 8732 finish. Close Friday: PDN 9.83, DYL 1.33, BOE 1.61, S32 4.93, BHP 61.05, CBA 152.43, STO 8.51.

Uranium complex holding pattern: PDN snapped back +3.6% Friday, BOE slightly softer.

Hang Seng 24751 Friday, steady. Tencent 419.0 (−1.6%), Alibaba 109.3 (+4.0%) on strong snap-back, Meituan 73.2, Xiaomi 26.4.

Friday close: S&P 7650, Nasdaq 26523 — both record territory. SPY 761.7, QQQ 721.5 (+0.6%), NVDA 222.3 (+1.3%), TSLA 364.3 (−0.5%). Gold bid: GLD 401.2 (+0.7%), TLT 81.3 (−0.6%) as long yields tick up.

Risk appetite firm at record highs; duo of higher yields + strong gold suggests inflation-bid chasing momentum rather than safety. Watch for Monday consolidation.

Uranium names continue to swing wide — stick to the plan: partial profits +5%, hard stops −4%. Momentum US-led but stretched; prefer adding on pullbacks, not chase. HK tech divergence (BABA strength vs Tencent softness) worth a second look for rotation.