Australian shares advanced on Friday, driven by gains in domestic retailers. The S&P/ASX 200 index rose 0.4% (30.1 points) to 8408.8, with nine of the 11 sectors posting gains, led by consumer discretionary stocks. The All Ordinaries index also climbed 0.4%.
The Australian sharemarket edged lower on Friday afternoon, weighed down by declines in the financial and communication services sectors. The S&P/ASX 200 Index slipped 0.1% or 10.1 points to 8316.9 at mid afternoon, following a 1.4% gain on Thursday. Major banks led the losses, with Commonwealth Bank falling 1%.
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The S&P/ASX 200 Index maintained its 1.4% gain, trading 123.8 points higher at 8327.1 by mid afternoon Thursday, while the All Ordinaries rose 1.3%. All 11 sectors advanced, led by banks and technology stocks, as global markets rallied on a softer US consumer price index reading, easing inflation concerns.
Stocks surged on Wednesday after December’s consumer price index (CPI) report showed core inflation unexpectedly eased, while major U.S. banks posted robust quarterly earnings.
The Dow Jones Industrial Average jumped 703.27 points (1.65%) to 43,221.55, the S&P 500 rose 1.83% to 5,949.91, and the Nasdaq Composite climbed 2.45% to 19,511.23—the best session for all three indices since November 6.
The Australian sharemarket reversed earlier gains to close marginally lower on Wednesday, with the S&P/ASX 200 slipping 0.04% (3.5 points) to 8227.5. The All Ordinaries fell similarly, reflecting a subdued trading session as investors awaited key US inflation data.
The Australian sharemarket edged higher on Tuesday, rebounding from a two-week low as bargain hunters entered the market. The S&P/ASX 200 Index rose 0.3%, or 27.2 points, to 8219 by mid-afternoon, with nine of 11 sectors posting gains. The All Ordinaries gained 0.4%. However, trading volumes remained thin.
The Australian sharemarket extended losses on Monday following a surprise uptick in US jobs data that dashed hopes for an imminent Federal Reserve rate cut. By late afternoon, the S&P/ASX 200 index had dropped 1.3%, or 111.5 points, to 8182.6.
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The Australian sharemarket commenced 2025 with gains, driven by momentum trading and a rally in energy stocks. The S&P/ASX 200 climbed 0.5% to close at 8201.2, recovering from a volatile morning session that briefly dipped into negative territory. Ten of the 11 sectors advanced, led by energy, materials, and real estate, each gaining over 1%, while consumer staples ended slightly lower.
Australian shares hit a three-month low on Friday, with the ASX slipping 1.2% to 8067.70, its lowest since September. The index has dropped nearly 3% this week, driven by a broad sell-off led by banks and consumer discretionary stocks.
The Australian sharemarket hit a six-week low on Thursday, with the S&P/ASX 200 plunging 1.9% (157 points) to 8152.40 by mid afternoon, amid a global sell-off following the US Federal Reserve’s caution on interest rate cuts. The Fed reduced its forecast for 2025 cuts from three to two, leading to a spike in the US dollar and a drop in the Australian dollar to US62.25¢. Bitcoin also retreated.
