Australian shares rose in early afternoon trading, buoyed by positive sentiment from Wall Street and Asia as investors reassess market and interest rate outlooks. The S&P/ASX 200 gained 0.6%, or 42.9 points, to 7723.5, reversing a 0.3% loss at the open. This follows a 0.4% rebound in the previous session after Monday’s sharp sell-off.
The Australian sharemarket maintained its gains despite the Reserve Bank holding the cash rate steady at 4.35%, citing persistent inflation concerns. The S&P/ASX 200 Index was up 0.8%, trading at 7,708.7 points in late trading, with six of 11 sectors in positive territory.
The Australian sharemarket is experiencing its steepest sell-off in two years, driven by escalating U.S. recession concerns. The S&P/ASX 200 index has dropped 2.7%, or 220 points, to 7722, extending Friday’s 2.1% decline. This 5% two-day loss marks the worst single-day drop since June 2022, when U.S. inflation surged to a 40-year high, unsettling global markets.
A lot of people asking what caused the recent stock market selloff, here’s the answer, the unwind of the YEN carry trade.
Australian shares experienced their largest one-day drop in 16 months, with the S&P/ASX 200 plummeting 2.1% or 171.1 points to 7943.60, following a sharp decline on Wall Street amid concerns that the Federal Reserve may be behind on cutting interest rates. This fall comes after the index reached a record high of 8114.7 just a day earlier. Despite the drop, the index remains on track for a 0.3% weekly gain, following a 4.2% rise last month.
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The Australian sharemarket has reached a record high, surpassing 8100 points, driven by rate optimism and rising oil prices. The S&P/ASX 200 increased by 34 points, or 0.4%, to 8126.7, building on gains from the previous day following lower core inflation figures that eased rate concerns.
The Australian sharemarket extended its gains at midday as the quarterly inflation gauge met expectations, indicating that rising inflation had returned to predictable territory. The S&P/ASX 200 Index climbed 1.5%, or 119.2 points, to 8072.4
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The Australian sharemarket advanced at midday, recovering some earlier losses. The S&P/ASX 200 Index rose 0.9%, or 69.4 points, to 7930.6, with nine of the 11 sectors trading in the green. The Australian dollar steadied at US65.5¢ after a week of selling.
Australian shares fell by 1 per cent at midday, with losses across all sectors. Mining stocks continued to decline due to concerns over China’s economy.
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