Australian shares hit a three-month low on Friday, with the ASX slipping 1.2% to 8067.70, its lowest since September. The index has dropped nearly 3% this week, driven by a broad sell-off led by banks and consumer discretionary stocks.
The Australian sharemarket hit a six-week low on Thursday, with the S&P/ASX 200 plunging 1.9% (157 points) to 8152.40 by mid afternoon, amid a global sell-off following the US Federal Reserve’s caution on interest rate cuts. The Fed reduced its forecast for 2025 cuts from three to two, leading to a spike in the US dollar and a drop in the Australian dollar to US62.25¢. Bitcoin also retreated.
Australian shares edged lower on Wednesday as investors adopted a cautious stance ahead of the U.S. Federal Reserve’s final policy decision for the year. The ASX 200 fell 13.2 points, or 0.2%, to close at 8300, reversing an early-session uptick. Meanwhile, the All Ordinaries Index rose 0.3%.
The S&P/ASX 200 rose 0.8% (66.9 points) to 8316.40 on Tuesday, supported by gains in the major banks, while falling oil prices weighed on energy stocks. The All Ordinaries Index also climbed 0.8%.
The ASX closed 0.6% lower on Monday, down 46.5 points to 8249.5, marking its fifth consecutive day of declines.
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.
