Author name: Jonathan Tacadena

The Australian sharemarket rebounded strongly on Tuesday, with the S&P/ASX 200 Index rising 1.9% (139.4 points) to 7482.7 by mid-afternoon, recovering part of Monday’s 4.2% loss. The All Ordinaries gained 2%, following a rally in Chinese equities and US futures despite continued geopolitical tensions.

The Australian sharemarket is facing its steepest decline in five years, as global markets react to escalating trade tensions between the US and China. By 2pm AEST, the S&P/ASX 200 had fallen 4% or 305.3 points to 7362.5, recovering slightly from earlier losses exceeding 6%. If sustained, it would mark the largest one-day drop since May 2020.

The ASX 200 is on track for its worst weekly decline since September 2022, plunging 3.5% as global markets reacted sharply to sweeping US tariff hikes that have heightened fears of a global recession. On Friday, the index fell 2.2% or 172.5 points to 7687.2, with ten of eleven sectors in the red. Energy stocks led losses, slumping over 7%, after OPEC+ unexpectedly announced plans to significantly increase oil supply in May, sending Brent crude below $US70 a barrel.

The Australian sharemarket shed $26.2 billion by lunchtime amid a wave of new US tariffs announced by President Donald Trump, triggering a sharp sell-off across global markets. The S&P/ASX 200 fell 1.1%, or 85.3 points, to 7849.2 near 2pm AEDT, with 10 of 11 sectors in the red. Technology and property led declines, each down over 2%, while consumer staples edged higher.

The ASX 200 rose 0.2% to 7941.6 on Wednesday afternoon, buoyed by a strong rally in property stocks that helped offset weakness in major miners. Eight of the 11 sectors traded higher, with real estate leading the gains, up 1.8%. Goodman Group climbed 3.7%, Charter Hall advanced 3.3%, and Stockland gained 1%.

Australian shares are rebounding, tracking gains on Wall Street ahead of US President Donald Trump’s anticipated announcement of reciprocal tariffs. By 2:30pm, the S&P/ASX 200 was up 0.8% or 61.2 points at 7904.6, while the All Ordinaries gained 0.6%. All 11 sectors were in positive territory, led by real estate and utilities.