Archives: Reports
The ASX200 closed up +0.1% on Monday in a fairly lacklustre session, which again saw the local index unable to build on early gains. Over 50% of the main board closed higher, with interesting moves in the resources sector after Chinese manufacturing data beat estimates.
The market tried to break out again today with buying seen early only to falter as the day progressed, the index closing ~20pts below the highs and only mildly in the green, but still up and around all-time highs.
The ASX200 is set to test new highs early this week after US equities hit new milestones on Friday, even though it was only a half-day following Thanksgiving holiday. The path of least resistance remains on the upside, even on quiet days.
The ASX200 ended the week up +0.5% and +3.38% for the month, and an even more impressive +3.9% when we include the chunky dividends in November. Through the penultimate month of the year, tech led the charge, advancing over 10%, while the materials and energy sectors were the only two to finish lower; it was a case of different month, but the same result for 2024.
With U.S markets shut for thanksgiving, we expected a quiet day today, and it was just that until news out of Brazil around midday gave some life to the resource names.
The ASX200 closed up +0.45% on Thursday, but again, after nudging a fresh all-time high, it drifted lower into the close, this time surrendering almost half of its late afternoon gains. The advance was patchy, with over 40% of the main board closing lower, but when the “Big Four Banks,” BHP, and CSL all rally, it’s going to be a tough session for the bears.
The Australian sharemarket has topped its second record high of the week, though it was on low volume and selling kicked in for the last hour of trade pushing the benchmark ~30pts below it’s peak by the close.
The ASX200 rebounded +0.6% on Wednesday, retracing more than 50% of Tuesday’s sell-off following Trump’s tariff threats, although we believe he simply reiterated his campaigning rhetoric. Gains were broad-based in the session, with all 11 sectors finishing higher and over 65% of the main board rose.
A good session for Aussie stocks recouping the majority of yesterday’s decline with all 11 sectors finishing in the green, headlined by a solid day for some of the retailers. Normal trade in the US tonight, before Thursday’s Thanksgiving holiday and a half day Friday.
At 10:30 a.m. on Tuesday, Donald Trump reminded us that the next few months, potentially years, will likely deliver plenty of volatility and opportunity. Just 24 hours beforehand, markets had welcomed Scott Bessent’s selection as the next U.S. Treasury Secretary with open arms in the hope of a more gradual layering of economic tariffs.
