The Australian sharemarket advanced towards a record close on Thursday, buoyed by strong financial sector gains led by Westpac’s standout quarterly result. At 2pm AEST, the S&P/ASX 200 rose 48.9 points to 8876, after hitting an intraday peak of 8899.10 – its fourth consecutive record high this week.

The Australian sharemarket is on track for its sharpest one-day fall in nearly two weeks, driven by heavy selling in major bank stocks, particularly Commonwealth Bank (CBA). After opening at a record high of 8890.50, the S&P/ASX 200 Index slid 42.50 points, or 0.5%, to 8838.30 by 2.05pm AEST.

The S&P/ASX 200 climbed to a record high after the Reserve Bank of Australia unanimously cut the cash rate by 25 basis points to 3.6 per cent, its lowest level in over two years. The index gained 0.3 per cent, or 23.7 points, to 8,868.50 at 2:43pm AEST, after reaching an intraday peak of 8,870.10 moments after the 2:30pm decision.

Australian shares eased on Friday, with the S&P/ASX 200 down 0.2% or 20.2 points to 8811.20 at 2:05pm AEST, though the index remains on track for its first weekly gain in three weeks, up 1.7%. Market sentiment softened as US President Donald Trump’s sweeping new tariffs—impacting over 90 countries—took effect, lifting the average US import rate to over 17%, the highest since the Great Depression.

Australian shares eased on Friday, with the S&P/ASX 200 down 0.2% or 20.2 points to 8811.20 at 2:05pm AEST, though the index remains on track for its first weekly gain in three weeks, up 1.7%. Market sentiment softened as US President Donald Trump’s sweeping new tariffs—impacting over 90 countries—took effect, lifting the average US import rate to over 17%, the highest since the Great Depression.

The S&P/ASX 200 Index slipped 0.2% or 16.4 points to 8827.30 by 2:05pm AEST on Thursday, easing after a record close in the previous session. Losses in healthcare and financials outweighed gains in technology and retail as markets digested fresh US semiconductor tariffs announced by President Donald Trump.