The ASX staged a sharp relief rally today, with the main board chalking up its strongest single day move since April 25. The move followed last week’s aggressive sell-off and was driven by dip-buying across technology and resource stocks, with all 11 sectors higher.
The ASX was hit hard today, with its sharpest fall in nearly three months after heavy losses in US tech overnight, a fresh leg down in commodities and a violent unwind in crypto combined crushed global risk appetite.
The ASX snapped a two-day winning streak today, with a sharp pullback in commodities weighing heavily on miners and overwhelming broader strength across defensives and financials. Losses were concentrated in materials while money rotated into healthcare, insurers and the major banks, while tech trod water after yesterday's savage sell-off.
The ASX wavered on the open but ultimately surged higher as a rebound in commodities dragged the market into positive territory, offsetting a sharp sell-off across high-multiple tech stocks which have faced unrelenting pressure on concerns around AI-driven disruption.
The ASX steadied itself through what was a choppy session, with a quick –35pt index selloff coming straight off the back of the first RBA rate-hike since 2023. Despite the initial reaction, a slow and steady grind higher helped to recover lost ground into the close.
The ASX suffered its worst fall of the year so far, as much as –122pts intra-day, led by a sharp sell-off in gold and oil stocks, before a +30pt bounce softened the blow late in the session.
The ASX reversed earlier gains in the final session of the month, dragged lower by an accelerating sell-off in gold and other resource stocks as hot money headed for the exits. The rally in this part of the market has been impressive, however when stocks and commodities start to go parabolic, aggressive, short, sharp pullbacks become more likely, and we’ve certainly seen that play out today. Using BHP as the proxy for the sector, the stock hit a new all-time high above $52 early on, before reversing to close lower. Golds were hit harder with Newmont (NEM) trading at $190 yesterday before closing ~$173 today.
The ASX was lower on Thursday, with a firmer Aussie dollar and rising rate expectations combining to pressure risk assets. The main drag came from some pockets of the resource sector, particularly rare earths, after reports suggested the Trump administration may back away from a proposed price floor mechanism, a policy support that had been a key pillar behind the sector’s rerating since mid-2025.
The ASX surrendered early gains and finished mildly lower after a hotter-than-expected December CPI reading firmed market expectations of a February rate hike from the RBA.
The ASX closed higher after a day off, buoyed by a powerful rally in precious and base metals stocks, with gold climbing to yet another all time high, now seemingly setting a new record every day, and Copper stocks chipping in too. While geopolitical noise remains in the background, the session had a risk-on feel as the rotation into resources showed no signs of slowing down with the index closing at its highest level since October.
The ASX was hit hard today, with its sharpest fall in nearly three months after heavy losses in US tech overnight, a fresh leg down in commodities and a violent unwind in crypto combined crushed global risk appetite.
The ASX snapped a two-day winning streak today, with a sharp pullback in commodities weighing heavily on miners and overwhelming broader strength across defensives and financials. Losses were concentrated in materials while money rotated into healthcare, insurers and the major banks, while tech trod water after yesterday's savage sell-off.
The ASX wavered on the open but ultimately surged higher as a rebound in commodities dragged the market into positive territory, offsetting a sharp sell-off across high-multiple tech stocks which have faced unrelenting pressure on concerns around AI-driven disruption.
The ASX steadied itself through what was a choppy session, with a quick –35pt index selloff coming straight off the back of the first RBA rate-hike since 2023. Despite the initial reaction, a slow and steady grind higher helped to recover lost ground into the close.
The ASX suffered its worst fall of the year so far, as much as –122pts intra-day, led by a sharp sell-off in gold and oil stocks, before a +30pt bounce softened the blow late in the session.
The ASX reversed earlier gains in the final session of the month, dragged lower by an accelerating sell-off in gold and other resource stocks as hot money headed for the exits. The rally in this part of the market has been impressive, however when stocks and commodities start to go parabolic, aggressive, short, sharp pullbacks become more likely, and we’ve certainly seen that play out today. Using BHP as the proxy for the sector, the stock hit a new all-time high above $52 early on, before reversing to close lower. Golds were hit harder with Newmont (NEM) trading at $190 yesterday before closing ~$173 today.
The ASX was lower on Thursday, with a firmer Aussie dollar and rising rate expectations combining to pressure risk assets. The main drag came from some pockets of the resource sector, particularly rare earths, after reports suggested the Trump administration may back away from a proposed price floor mechanism, a policy support that had been a key pillar behind the sector’s rerating since mid-2025.
The ASX surrendered early gains and finished mildly lower after a hotter-than-expected December CPI reading firmed market expectations of a February rate hike from the RBA.
The ASX closed higher after a day off, buoyed by a powerful rally in precious and base metals stocks, with gold climbing to yet another all time high, now seemingly setting a new record every day, and Copper stocks chipping in too. While geopolitical noise remains in the background, the session had a risk-on feel as the rotation into resources showed no signs of slowing down with the index closing at its highest level since October.
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