May 2025

ASX Set for Second Monthly Gain Despite Tech Drag; WiseTech Falls

The Australian sharemarket is on track for a second consecutive monthly gain, supported by easing global trade tensions following a US court ruling against President Trump’s tariffs. By 2pm, the S&P/ASX 200 had dipped 0.1% to 8405.4, though the index remains up 3.4% for April. The All Ordinaries also fell 0.1%, heading for its eighth straight weekly advance.

The Australian sharemarket edged higher on Thursday, buoyed by energy stocks, while weakness in the mining sector tempered broader gains. The S&P/ASX 200 Index rose 0.2%, or 20.4 points, to 8417.3 by 2pm. The All Ordinaries also advanced 0.2%, with seven of 11 sectors trading in the green.

The ASX edged lower on Wednesday as profit-taking in major banks erased earlier gains sparked by a strong Wall Street lead. The S&P/ASX 200 dipped 0.1% to 8399.4 by 2pm, after hitting its highest intraday level since February 19. Financials led sector declines, with Commonwealth Bank down 0.6% and Macquarie easing 0.3% after an initial 1% rally.

ASX Edges Higher on Tech, Banks; Iron Ore Weakens

The ASX 200 rose 0.3% to 8388 on Tuesday, tracking gains in European markets and US futures after easing trade tensions between the US and EU. The All Ordinaries also gained 0.3%, with eight of 11 sectors in positive territory, led by energy.

Australian shares fluctuated on Monday, with the S&P/ASX 200 Index edging just 0.6 points higher by 2pm, as markets reacted cautiously to U.S. President Donald Trump’s decision to delay a 50% tariff on EU imports until July 9. The Nasdaq rebounded, with futures up more than 1%, while the U.S. dollar weakened to its lowest level since 2023, lifting the Australian dollar and the yuan to six-month highs.