Pulse

ASX200 8,679.7 (+0.15% Mon close); All Ords 8,850.7 (+0.06%)

Resources solid: BHP +1.4% to 60.63, RIO +0.8%, FMG flat; energy heavy WDS −0.9%, STO −1.1%

Banks soft: CBA −0.8% to 150.27, NAB flat

Desk watch: PDN +1.2% to 9.47, BOE +5.8% to 1.65, DYL +2.9% to 1.24

Tech weakness: 00700 −1.8% to 432.0, 09988 −1.4% to 106.2, 03690 −2.0% to 70.45, 01810 −2.6% to 25.20

SPY −0.2% to 764.20, QQQ +0.2% to 737.93 — mixed tape

TSLA −1.3% to 352.84, NVDA −0.7% to 227.21

Safe havens bid: GLD +1.3% to 382.89, TLT −0.5% to 78.23

Gold strength with soft risk appetite suggests defensive rotation into month/quarter end

Materials leading AU while financials lag — commodity bid continues

BOE +5.8% is momentum-strong; hold with the plan. PDN steady grind up, fine. DYL bounce after weakness — watch for follow-through above 1.25.

HK tech pullback looks like profit-taking, not regime change — no action needed.

Gold strength vs TLT softness: real-asset bid intact; keep resource overweight posture.