Australian shares experienced an early boost but were trimmed by midday as profit-taking in Commonwealth Bank shares slowed gains. The index, which had risen as much as 0.8%, was up 0.3% at 8,567 points, while the All Ordinaries Index climbed 0.4%.
The Australian sharemarket reached a new peak on Thursday, driven by strong earnings results and the high-profile debut of Chemist Warehouse. The S&P/ASX 200 rose 0.2% to 8554.20, nearing its intraday record. Despite gains in materials stocks, only three of eleven sectors advanced. The All Ordinaries also added 0.2%.
The Australian sharemarket advanced on Wednesday, driven by a rally in Commonwealth Bank (CBA) following stronger-than-expected earnings. The S&P/ASX 200 rose 27.5 points (0.3%) to 8511.5 by mid-afternoon, with six of eleven sectors gaining.
The Australian sharemarket turned lower on Tuesday afternoon as gains from upbeat earnings were offset by a sharp sell-off in CSL. The S&P/ASX 200 was flat at 8483.50 by mid afternoon, while the All Ordinaries Index edged 0.05% higher. Industrials and technology stocks led gains, with nine of the ASX 200’s eleven sectors in positive territory.
The S&P/ASX 200 index fell 0.6% in early trading on Monday, tracking Wall Street’s decline, before recovering slightly to trade 0.3% lower by 2:01 PM.
The S&P/ASX 200 hovered around 8519.3 on Friday afternoon, down 1.4 points, after a volatile session as traders awaited the US January jobs report to gauge the Federal Reserve’s rate cut trajectory. The index remains within 25 points of a record high, with six of 11 sectors gaining, while energy stocks led declines.
The S&P/ASX 200 gained 1.1%, or 91 points, to 8,507.9 by mid afternoon, approaching its all-time high of 8,532.3, as nine of eleven sectors advanced. Investors welcomed a pause in U.S. tariff discussions, with President Donald Trump shifting focus to Middle East policy.
Australian Shares Rise as Mining Stocks Gain on China’s Tariff Response
Australian shares advanced on Wednesday as China’s measured response to U.S. tariffs lifted mining stocks. The S&P/ASX 200 gained 0.6%, or 47.6 points, to 8421.6 by mid afternoon, recovering from recent declines. The All Ordinaries Index rose 0.7%, with nine of the 11 sectors trading higher.
The S&P/ASX 200 fell 1.8% (155.6 points) to 8376.7 in early afternoon trading on Monday, as investors reacted to escalating US trade tensions. The Australian dollar hit a four-year low, slipping below US61¢. All 11 ASX sectors declined, with consumer discretionary and materials losing over 2%.
ASX Gains on Mining, Real Estate, and Tech Rally
The Australian share market extended its rally on Friday, with the S&P/ASX 200 rising 0.3% and the All Ordinaries Index up 0.4%, marking the biggest weekly gain in a month. The Australian dollar softened to US62.23¢.
The S&P/ASX 200 surged to a record high on Thursday, climbing 0.8% to 8,510.7 by mid afternoon, as investors priced in expectations of an imminent rate cut by the Reserve Bank of Australia. All 11 ASX sectors advanced, led by energy and consumer discretionary stocks.
Australian equities gained momentum on Wednesday, with the S&P/ASX 200 climbing 0.9% to 8472.3, following softer-than-expected inflation data that bolstered expectations of a February rate cut by the RBA. Eleven of twelve sectors traded higher as major banks, including NAB and RBC, adjusted forecasts in favor of earlier monetary easing.
