The Australian sharemarket surged towards a record high on Wednesday after softer-than-expected inflation data bolstered expectations of an imminent interest rate cut. At 2:05pm AEST, the S&P/ASX 200 rose 56.9 points, or 0.7%, to 8761.50, surpassing the previous record of 8757.20 set on July 18. The broader All Ordinaries Index posted similar gains.
The Australian sharemarket traded marginally lower on Tuesday as investors exercised caution ahead of Wednesday’s critical quarterly CPI release, a key determinant for the Reserve Bank of Australia’s next interest rate decision.
The Australian sharemarket traded higher on Monday afternoon, supported by strength in US equity futures following a US-EU trade agreement and signs of a continued tariff truce with China. The S&P/ASX 200 Index rose 25.1 points, or 0.3%, to 8692 at 2.10pm AEST, with healthcare and communication services leading sector gains. CSL advanced 1% and Telstra added 0.8%.
The ASX edged lower on Friday despite positive cues from Wall Street, where Alphabet’s earnings lift supported tech stocks. As of 2:05pm AEST, the S&P/ASX 200 Index was down 33.7 points, or 0.4%, to 8675.7, with six of 11 sectors trading higher.
The Australian sharemarket turned lower on Wednesday as investors took profits following a strong prior session and awaited developments on a potential EU-US trade agreement. The S&P/ASX 200 slipped 0.3% to 8,710.8 by 2pm AEST, with losses across seven of the 11 sectors, led by financials.
The S&P/ASX 200 climbed 0.7% to 8741.80 on Wednesday afternoon, supported by gains in banks and miners. Nine of the 11 sectors traded higher, with materials leading the advance following a 2.2% rise in Singapore iron ore futures to US$105.65/t—driven by Chinese steel sector reforms and infrastructure investment.
The Australian sharemarket gave up early gains to trade flat by mid-afternoon, weighed down by weakness in major banks following the release of the RBA’s July meeting minutes. At 1:55pm AEST, the S&P/ASX 200 was down 3.2 points to 8665.00, having earlier reached 8714.60.
The Australian sharemarket is facing its steepest one-day fall since April, with the S&P/ASX 200 down 1.2% to 8656.40 by 2:05pm AEST. Financials led the decline, falling 2.2% as investors booked profits from last week’s gains. Major banks were hit hard, with Westpac down 3.4%, Commonwealth Bank 2.9%, ANZ 2.7%, and NAB 2.6%.
The Australian sharemarket is on track for its strongest daily gain since April, as investors return to equities despite stretched valuations. The S&P/ASX 200 advanced 1.5% or 128.7 points to 8767.7 by 2:23pm AEST, eyeing its best session since April 10. The index is up more than 2% this week, nearing its strongest weekly performance since early May.
The Australian sharemarket is poised to recover from Wednesday’s sharp decline, following a surprise uptick in the national unemployment rate to 4.3% in June. The softer labour data has strengthened expectations of a 25 basis point rate cut at the Reserve Bank’s next meeting on August 12, with market pricing lifting the probability to 94%.
The Australian sharemarket is on track for its worst one-day drop since May, as risk appetite deteriorates on the back of hotter-than-expected US inflation data and renewed tariff concerns. At 2pm AEST, the S&P/ASX 200 was down 0.8% at 8564.10. If sustained, it would mark the steepest decline since May 5.
The ASX advanced on Tuesday, buoyed by easing tariff concerns and stronger-than-expected Chinese economic data. The S&P/ASX 200 Index climbed 43.2 points, or 0.5%, to 8613.6 by 2:02pm AEST, surpassing its previous record of 8603 set on July 4. Gains were broad-based, with nine of 11 sectors in positive territory, led by technology and healthcare.
