Australian shares edged slightly higher on Friday, with the S&P/ASX 200 Index up 3.3 points to 8599.1 as of 2pm AEST—poised to surpass its record close of 8597.7 set on Wednesday. Gains in tech and retail helped offset declines in major miners and Commonwealth Bank.
The ASX retreated on Thursday, with the S&P/ASX 200 falling 20.7 points or 0.2% to 8577 by 2pm AEST. The decline followed a record close on Wednesday, as profit-taking in the big four banks, led by a 1.6% fall in Commonwealth Bank, weighed on the index. National Australia Bank slipped 1.2%, and Westpac lost 0.5%.
The S&P/ASX 200 Index climbed 0.6% to 8588.8 on Wednesday afternoon, buoyed by weak domestic retail sales data that bolstered expectations of a July rate cut from the RBA. Nine of 11 sectors advanced, led by miners and real estate.
The ASX rose modestly on Tuesday, buoyed by strength in tech, retail, and real estate sectors amid optimism over US trade negotiations. The S&P/ASX 200 gained 14.1 points, or 0.2%, to 8556.4 by midday, with eight of 11 sectors trading higher.
While the headlines often focus on tech giants or banks at record highs, Australia’s engineering services companies have been quietly delivering impressive results in the background.
The Australian sharemarket rose on Monday, with the S&P/ASX 200 up 60.7 points, or 0.7%, to 8574.9 by 2:10pm AEST. The rally followed gains on Wall Street, where the S&P 500 closed at a record high amid optimism around US trade talks.
The S&P/ASX 200 fell 0.08% to 8543.8 by early afternoon Friday, paring early gains as strength in iron ore and lithium stocks was outweighed by losses in financials and consumer staples. Seven of 11 sectors declined.
The ASX dipped slightly on Thursday, with the S&P/ASX 200 down 5 points, or 0.1%, to 8554.2 by 2pm AEST, as weakness in technology stocks offset gains elsewhere.
The S&P/ASX 200 Index was little changed on Wednesday, down just 1 point to 8554.2 by 2pm AEST, as weakness in mining and energy stocks offset gains in banks and tech. Investor sentiment remained cautious amid geopolitical uncertainty surrounding the Israel-Iran ceasefire.
ASX Rallies on Ceasefire Hopes; Greatland Gold and Virgin Australia Shine on Debut
The ASX surged on Tuesday as easing geopolitical tensions and strong IPO performances boosted investor confidence. The S&P/ASX 200 rose 1% to 8556.2 by 2pm AEST, with nine of 11 sectors in the green. A tentative ceasefire between Iran and Israel, announced by former US President Donald Trump, helped spark a broad-based rally.
The ASX fell to a 20-day low on Monday as geopolitical tensions rattled markets following U.S. strikes on Iranian nuclear facilities. The S&P/ASX 200 Index dropped 36.5 points, or 0.4%, to 8469 by 2pm AEST, with nine of 11 sectors in decline. Technology, healthcare, and industrials led losses, while energy stocks gained on surging oil prices.
ASX Dips as Banks Weigh; Betr Tables Bid for PointsBet
The ASX edged lower on Friday afternoon, with the S&P/ASX 200 slipping 16 points, or 0.2%, to 8507.7 by 2pm AEST. Losses in the big four banks outweighed modest gains in healthcare, with six of 11 sectors trading in the green.