Author name: Jonathan Tacadena

The Australian sharemarket advanced, following Wall Street’s gains, as consumer discretionary and mining stocks led the rally. By early afternoon, the S&P/ASX 200 Index was up 0.5 percent, adding 41.6 points to reach 8263.1.

Australian shares remained steady early Monday afternoon, with the S&P/ASX 200 down 1 point at 8211.2 in a restrained start to the week. Gains in technology balanced declines in energy and utilities sectors, as five of the ASX’s 11 sectors rose.

Australian shares rose by midday Friday, driven by a 14% surge in WiseTech following CEO Richard White’s sudden exit. The S&P/ASX 200 gained 0.4% or 35.2 points to 8241.5, bouncing back from Thursday’s 0.1% loss but set for a 0.5% weekly decline. Technology led nine advancing sectors, rising 4%.

Australian shares edged higher at midday, with the S&P/ASX 200 up 10 points to 8233 after a weak start. A recovery in the banking sector, particularly Commonwealth Bank’s 1.2% rise, offset broader market declines. Technology stocks dropped 2%, following the overnight fall of US mega-caps like Nvidia and Apple.

Australian shares extended losses into the early afternoon, as weak Chinese economic data weighed on market sentiment, hitting commodity stocks particularly hard. The S&P/ASX 200 dropped 0.9%, or 73.6 points, to 8282.3, retreating from the previous session’s record close of 8355.9. All sectors traded in the red, with Utilities leading the declines, driven by a 6% slump in APA Group after major shareholder Unisuper offloaded $500 million in shares.

Australian shares trimmed losses but remained down in early afternoon trade on Wednesday, driven by a tech sector slump after a surprise report from Dutch chipmaker ASML raised concerns over the global AI boom. The S&P/ASX 200 fell 0.1% to 8309, retreating from Tuesday’s record close of 8318.4.

A rally in mining stocks and banks helped the Australian sharemarket hit a new record high on Tuesday. The benchmark S&P/ASX 200 Index rose 0.9% to 8331.7 points in the afternoon, surpassing its previous peak of 8285.7 points set last month. Investor sentiment was boosted by a strong session on Wall Street, where the S&P 500 hit another record, driven by a surge in tech stocks, particularly chipmakers.

Mining stocks have driven a late rally on the ASX, pushing the index closer to its record high set last month. In late afternoon trading, the S&P/ASX 200 was up 44.3 points, or 0.5%, at 8240, nearing its previous high of 8269.85 from September 30. Mining shares led the way, rising 1.5% after being flat for much of the session.