The Australian sharemarket was flat in afternoon trade as gains in Commonwealth Bank helped offset broader market weakness driven by fresh volatility in US markets. The S&P/ASX 200 Index edged down 1.3 points to 7817.8 near 2pm, paring a 1 per cent early decline. Technology led sector losses, while banks and miners provided some support.
ASX Rises on Energy and Gold Rally, Employment Data Supports Rates Outlook
The Australian sharemarket extended its advance on Wednesday, with the S&P/ASX 200 Index up 0.5% to 7800.3 by 2pm AEDT, supported by gains in energy and gold stocks.
The Australian sharemarket maintained modest gains on renewed hopes of a US-China trade deal, despite lingering global economic uncertainty. By 2pm, the S&P/ASX 200 Index had risen 0.3% to 7782.10, while the All Ordinaries added 0.2%. Financials led six of eleven sectors higher, buoyed by strong US bank earnings and resilience in consumer spending.
Investors remain cautious, awaiting key data such as China’s upcoming GDP report to gauge the impact of recent stimulus efforts.
The Australian sharemarket fell sharply on Friday, extending its weekly losses amid renewed global risk aversion following a third US tariff hike on Chinese imports this week. The S&P/ASX 200 dropped 1.3% or 97.8 points to 7611.8 by 2:15pm, erasing much of Thursday’s five-year record rally. The benchmark is down 0.8% for the week and 4% since the start of April. The All Ordinaries lost 1.2%, with 10 of 11 sectors in negative territory, led by energy.
The Australian sharemarket is set to record its strongest session in five years, with the S&P/ASX 200 up 4.5% to 7708.9 points by mid-afternoon, buoyed by a sharp overnight rally on Wall Street. US President Donald Trump’s decision to pause reciprocal tariffs for 90 days on over 75 countries sparked a risk-on rebound, lifting sentiment across global markets.
The Australian sharemarket extended its sell-off on Wednesday, with the S&P/ASX 200 Index falling 146.6 points, or 2%, to 7363.4 by 2:30pm AEST. The decline follows renewed global trade tensions after the White House raised tariffs on Chinese imports to 104%, triggering fears of a broader economic slowdown. All 11 ASX sectors traded lower, with heavy losses in energy and mining stocks amid falling commodity prices.
The Australian sharemarket rebounded strongly on Tuesday, with the S&P/ASX 200 Index rising 1.9% (139.4 points) to 7482.7 by mid-afternoon, recovering part of Monday’s 4.2% loss. The All Ordinaries gained 2%, following a rally in Chinese equities and US futures despite continued geopolitical tensions.
The Australian sharemarket is facing its steepest decline in five years, as global markets react to escalating trade tensions between the US and China. By 2pm AEST, the S&P/ASX 200 had fallen 4% or 305.3 points to 7362.5, recovering slightly from earlier losses exceeding 6%. If sustained, it would mark the largest one-day drop since May 2020.
The ASX 200 is on track for its worst weekly decline since September 2022, plunging 3.5% as global markets reacted sharply to sweeping US tariff hikes that have heightened fears of a global recession. On Friday, the index fell 2.2% or 172.5 points to 7687.2, with ten of eleven sectors in the red. Energy stocks led losses, slumping over 7%, after OPEC+ unexpectedly announced plans to significantly increase oil supply in May, sending Brent crude below $US70 a barrel.
The Australian sharemarket shed $26.2 billion by lunchtime amid a wave of new US tariffs announced by President Donald Trump, triggering a sharp sell-off across global markets. The S&P/ASX 200 fell 1.1%, or 85.3 points, to 7849.2 near 2pm AEDT, with 10 of 11 sectors in the red. Technology and property led declines, each down over 2%, while consumer staples edged higher.
The ASX 200 rose 0.2% to 7941.6 on Wednesday afternoon, buoyed by a strong rally in property stocks that helped offset weakness in major miners. Eight of the 11 sectors traded higher, with real estate leading the gains, up 1.8%. Goodman Group climbed 3.7%, Charter Hall advanced 3.3%, and Stockland gained 1%.
