2026.03.2705:34:53UTC+00ASX 200 Ends Week Higher Despite Market Jitters

The S&P/ASX 200 slipped on Friday, closing at 8,516 and logging a second consecutive decline, as mounting concerns over a prolonged energy shock from the Middle East conflict pushed borrowing costs higher. President Trump warned that Iran must reach an agreement with the US or face sustained military pressure, adding that the option of seizing control of Iran’s oil remained under consideration. Separately, the OECD cautioned that Australia could experience one of the highest inflation rates among advanced economies and severe fertiliser supply disruptions amid ongoing geopolitical risks. The RBA also warned that the longer the conflict continues, the greater the strain on households and businesses. On the corporate front, Genesis Minerals (-4.2%), Greatland Resources (-4.0%), Macquarie Group (-2.3%), and Qantas Airways (-1.1%) were among the notable decliners. Despite Friday’s weakness, the index advanced 1.0% over the week—its first weekly gain in four—supported by bargain hunting and news that President Trump will meet Chinese leader Xi Jinping in Beijing on May 14–15, in a summit rescheduled from March 31.