The Australian sharemarket declined on Tuesday as US President Donald Trump’s reaffirmation of tariffs on Mexico and Canada heightened investor concerns over global trade tensions. The S&P/ASX 200 fell 0.5% to 8265.10 by 2pm, while the All Ordinaries dropped 0.6%. Losses were broad-based, with consumer discretionary stocks leading the decline.
The S&P/ASX 200 edged 0.1% higher to 8301.80 on Monday, recovering from early losses as bargain hunters drove a rebound in financial stocks. The index opened lower amid broad selling but reversed course by early afternoon, with six of 11 sectors advancing, led by utilities.
The S&P/ASX 200 declined 0.2% to 8303.70 in afternoon trade, marking a new one-month low as weakness in consumer discretionary stocks and Commonwealth Bank weighed on the market. The Australian dollar edged above US64¢.
The Australian sharemarket extended its sell-off on Thursday, with the S&P/ASX 200 Index dropping 1.5% to 8,297, its largest intraday decline in three weeks. A stronger-than-expected 44,000 increase in January employment tempered rate cut expectations, with odds of a May cut falling from 79% to 72%.
ASX Declines as Banks Weigh on Market
The S&P/ASX 200 fell 0.7% (55.2 points) on Wednesday to 8425.80, as banking and energy stocks dragged the index lower. Seven of the 11 sectors finished in positive territory.
The Australian sharemarket extended losses on Tuesday as interest-rate-sensitive sectors sold off following the Reserve Bank of Australia’s widely expected 25-basis-point rate cut to 4.1 per cent—the first reduction since 2020.
The Australian sharemarket declined on Monday, with banks leading losses after underwhelming earnings reports from Westpac and Bendigo Bank. The S&P/ASX 200 Index fell 0.6% (54.60 points), retreating from Friday’s record high of 8555.8.
Australian shares experienced an early boost but were trimmed by midday as profit-taking in Commonwealth Bank shares slowed gains. The index, which had risen as much as 0.8%, was up 0.3% at 8,567 points, while the All Ordinaries Index climbed 0.4%.
The Australian sharemarket reached a new peak on Thursday, driven by strong earnings results and the high-profile debut of Chemist Warehouse. The S&P/ASX 200 rose 0.2% to 8554.20, nearing its intraday record. Despite gains in materials stocks, only three of eleven sectors advanced. The All Ordinaries also added 0.2%.
The Australian sharemarket advanced on Wednesday, driven by a rally in Commonwealth Bank (CBA) following stronger-than-expected earnings. The S&P/ASX 200 rose 27.5 points (0.3%) to 8511.5 by mid-afternoon, with six of eleven sectors gaining.
The Australian sharemarket turned lower on Tuesday afternoon as gains from upbeat earnings were offset by a sharp sell-off in CSL. The S&P/ASX 200 was flat at 8483.50 by mid afternoon, while the All Ordinaries Index edged 0.05% higher. Industrials and technology stocks led gains, with nine of the ASX 200’s eleven sectors in positive territory.
The S&P/ASX 200 index fell 0.6% in early trading on Monday, tracking Wall Street’s decline, before recovering slightly to trade 0.3% lower by 2:01 PM.
