The ASX staged a sharp intraday recovery, rallying ~85 points from its morning low to finish higher as technology, resources and property shares turned higher. The rebound followed early weakness as the market weighed the risk of higher interest rates against a busy week of Australian inflation data, US earnings and central bank decisions. Materials recovered some ground after last week’s selloff, while the major banks pared their early losses.
The ASX spent most of the session trading lower off the back of a weaker session playing out in the US, particularly Tech overnight. Banks and consumer-facing stocks provided a lift, but the modest gain masked a sharp divide across the market.
Local shares finished lower as higher oil prices and renewed rate-hike fears weighed on sentiment, with weakness across energy, materials, and consumer stocks. Despite a rebound in parts of the technology sector, concerns over data-centre funding and execution risks persisted, while a sharp retail profit warning underscored the pressure higher living costs and borrowing rates are placing on consumers.
The ASX managed to finish slightly higher today after a topsy turvy session. Early gains were pared back after RBA deputy governor Andrew Hauser warned inflation was materially worse than forecast in August, pulling the index briefly back below the 8,800, level however a push through the afternoon led by the heavyweight Financials was enough to eke out a gain.
The ASX 200 traded lower on Tuesday, with the heavyweight miners and banks doing most of the damage, although the market recovered a fair chunk of its early losses as technology and consumer staples found buyers. The important point was the rotation beneath the surface: resources remained under pressure, but some of the more heavily sold growth names continued to attract bargain hunters.
A strong day for the ASX, closing higher in a session where deal-making stole the show helping the broader market shrug off another bout of global technology jitters. Energy and financials supported the market, but technology stocks remained under pressure amid concerns over debt-funded AI investment while stronger-than-expected Chinese GDP growth offered some positive signs for the resources outlook, despite property investment continuing to slump.
The local market staged a broad recovery today as technology and materials stocks bounced back from heavy losses, supported by easing concerns around the global AI thematic, triggering renewed buying across oversold sectors though weakness in banks and consumer staples limited the advance.
Local shares finished marginally lower as a defensive rotation into consumer staples and financials offset a sharp sell-off in miners, technology and data centre stocks, with softer domestic employment data providing some relief on interest rate expectations after hotter-than-expected US inflation reignited rate concerns overnight.
A weaker session on the ASX today, with the market snapping its recent winning streak as banks unwound yesterday’s rally. Financials and Materials weighed on the index, while Energy, Telecommunications and Real Estate provided some support.
A mixed session on the ASX today, with the index recovering from intraday losses to finish almost unchanged. Defensive sectors, energy and banks provided some support, but a sharp global semiconductor sell-off weighed heavily on Technology, while Materials and lithium stocks also came under pressure.
The ASX spent most of the session trading lower off the back of a weaker session playing out in the US, particularly Tech overnight. Banks and consumer-facing stocks provided a lift, but the modest gain masked a sharp divide across the market.
Local shares finished lower as higher oil prices and renewed rate-hike fears weighed on sentiment, with weakness across energy, materials, and consumer stocks. Despite a rebound in parts of the technology sector, concerns over data-centre funding and execution risks persisted, while a sharp retail profit warning underscored the pressure higher living costs and borrowing rates are placing on consumers.
The ASX managed to finish slightly higher today after a topsy turvy session. Early gains were pared back after RBA deputy governor Andrew Hauser warned inflation was materially worse than forecast in August, pulling the index briefly back below the 8,800, level however a push through the afternoon led by the heavyweight Financials was enough to eke out a gain.
The ASX 200 traded lower on Tuesday, with the heavyweight miners and banks doing most of the damage, although the market recovered a fair chunk of its early losses as technology and consumer staples found buyers. The important point was the rotation beneath the surface: resources remained under pressure, but some of the more heavily sold growth names continued to attract bargain hunters.
A strong day for the ASX, closing higher in a session where deal-making stole the show helping the broader market shrug off another bout of global technology jitters. Energy and financials supported the market, but technology stocks remained under pressure amid concerns over debt-funded AI investment while stronger-than-expected Chinese GDP growth offered some positive signs for the resources outlook, despite property investment continuing to slump.
The local market staged a broad recovery today as technology and materials stocks bounced back from heavy losses, supported by easing concerns around the global AI thematic, triggering renewed buying across oversold sectors though weakness in banks and consumer staples limited the advance.
Local shares finished marginally lower as a defensive rotation into consumer staples and financials offset a sharp sell-off in miners, technology and data centre stocks, with softer domestic employment data providing some relief on interest rate expectations after hotter-than-expected US inflation reignited rate concerns overnight.
A weaker session on the ASX today, with the market snapping its recent winning streak as banks unwound yesterday’s rally. Financials and Materials weighed on the index, while Energy, Telecommunications and Real Estate provided some support.
A mixed session on the ASX today, with the index recovering from intraday losses to finish almost unchanged. Defensive sectors, energy and banks provided some support, but a sharp global semiconductor sell-off weighed heavily on Technology, while Materials and lithium stocks also came under pressure.
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