Australian shares hit a four-week low on Friday, with the S&P/ASX 200 falling 0.6% to 8280.8 by midday, extending Thursday’s 0.3% drop. The index has lost 1.7% this week, marking its sharpest decline since August, as investors grapple with a robust jobs report that dampened hopes for a near-term Reserve Bank rate cut.
Australian shares dipped in early trading, extending losses from the previous session as profit-taking persisted. The S&P/ASX 200 fell 17 points, or 0.2%, to 8376 points by mid afternoon, with tech stocks leading the decline after a 4% drop on Tuesday. WiseTech and Xero slid 2.7% and 1.6%, respectively.
The ASX has recovered some losses following a dovish stance from the Reserve Bank of Australia (RBA), which left the cash rate unchanged at 4.35%. The central bank expressed growing confidence that inflationary pressures are easing, citing softer-than-expected economic and wage growth since November. The S&P/ASX 200 is 0.2% lower, improving from a 0.6% decline earlier in the session.
The S&P/ASX 200 Index dropped 0.3% on Monday, declining 21.9 points to 8399 by mid afternoon, as energy and mining stocks led the downturn amid softer commodity prices. The Australian dollar hovered near a one-year low, briefly dipping below US64¢.
Australian shares retreated on Friday, tracking Wall Street’s decline as investors exercised caution ahead of a critical US jobs report that may influence the Federal Reserve’s policy stance. The S&P/ASX 200 dropped 0.5% to 8435.2 by early afternoon, positioning the index for a flat weekly close despite hitting a record high of 8514.5 on Tuesday.
The Australian sharemarket edged higher on Thursday, driven by gains in technology shares following a strong Wall Street performance. By mid afternoon, the S&P/ASX 200 Index rose 0.2% (19.1 points) to 8481.7, with the Australian dollar trading at US64.38¢. The information technology sector led the gains, with WiseTech and TechnologyOne each up 3.2%.
Australian shares retreated Wednesday afternoon, with the S&P/ASX 200 Index declining 0.5% (38 points) to 8457.2 by late afternoon, following a record close on Tuesday and mixed Wall Street performance.
The Australian sharemarket hit a record high for the third time in a week on Tuesday, with the S&P/ASX 200 rising 0.7% to close at 8505.1, marking a year-to-date gain of over 11%. Gains were broad-based, with 10 of 11 sectors advancing, led by health, while utilities lagged due to declines in AGL and Origin.
The Australian sharemarket is nearing its third record high this week, with the S&P/ASX 200 rising 19 points to 8455, just below the all-time high of 8477.1 set on Thursday. Gains in technology stocks, up 1.1%, are leading the advance.
The Australian sharemarket edged lower on Friday, trimming gains from earlier in the week that saw the S&P/ASX 200 Index set two record highs. The benchmark slipped 0.1% or 8.1 points to close at 8436.2, while the All Ordinaries remained flat. Over the week, the S&P/ASX 200 advanced 0.5%.
The S&P/ASX 200 Index hit a record high, rising 0.7% to 8466.7, led by strength in banking and healthcare stocks.
The Australian sharemarket advanced by afternoon, mirroring Wall Street’s rally to record highs. The S&P/ASX 200 Index rose 0.6% or 51.2 points to 8413.5, with gains across all 11 sectors. US markets were buoyed by a ceasefire between Israel and Hezbollah, with the S&P 500 reaching a new record.
