The ASX finished lower today though the move was somewhat contained considering the escalation in rhetoric around the Middle East conflict. The local market entered the session digesting the breakdown of peace talks between the US and Iran in Pakistan over the weekend, with President Donald Trump announcing plans for a naval blockade of the Strait of Hormuz, causing a +7% spike in oil prices.
The local market softened today, though not by much, with the ASX200 index still capping off a strong week, rising +3.3% over the period as markets continued to rebound following the US-Iran ceasefire. Risk appetite cooled with investors trimming positions ahead of talks between US and Iranian officials in Pakistan over the weekend, while uncertainty around the Strait of Hormuz and the resumption of tanker traffic continues to cloud the near-term outlook for energy markets.
The ASX 200 edged higher today, extending the relief rally sparked by the Iran ceasefire announcement yesterday morning, though gains were modest as investors continued to weigh the fragility of the agreement and the ongoing disruption to traffic and oil flows through the Strait of Hormuz. The mixed tone across sectors reflected that backdrop, with energy leading gains while technology stocks gave back some of their strong advances from the prior session.
The ASX 200 posted its best session in almost a year today after the US and Iran agreed to a two-week ceasefire, triggering a sharp unwind of the war risk premium that has dominated markets over the past six weeks. The ceasefire, reportedly brokered through diplomatic channels including Pakistan, came just hours after US President Donald Trump warned he would escalate attacks on Iran’s infrastructure if shipping routes remained blocked.
The ASX 200 finished higher today, extending the recent recovery, although the market did give back some earlier gains as the session progressed. The index rallied through the morning as investors balanced improving risk sentiment against the continued uncertainty surrounding the Middle East conflict and the looming US deadline on Iran
The ASX200 gave up early gains and finished lower today after investors were rattled by a fiery speech from US President Donald Trump at midday our time, dampening hopes for a quick resolution to the Iran conflict. The index traded up as much as ~0.4% earlier in the session before reversing sharply as oil prices surged and geopolitical risks again took centre stage.
The ASX surged today, recovering from the worst monthly performance in four years as markets latched onto signs the Iran conflict could begin to wind down. The morning open was reason enough to call it a strong session, though a late 30pt rally in the final 20 minutes of trade was the cherry on top as the index closed on its highs. It was a broad rally as ten of eleven sectors finished higher with materials leading the charge, while the defensive utilities dragged as risk on sentiment returned to the bourse.
It was a story of two tales today as the ASX whipsawed from negative to positive territory at midday, before giving back most of the gains rapidly into the close. Early weakness was shaken off as the market reacted to reports that US President Donald Trump may be prepared to wind down the Iran war even if the Strait of Hormuz remains largely closed.
While the market closed lower again today, which is becoming a feature of recent Mondays, the weakest part of the session was behind us early. Headline-driven selling dominated at the open, pushing the ASX 200 down toward ~8380, but that weakness was steadily absorbed as the day wore on, with buyers stepping back in and the index grinding around 70 points off its morning lows by the close.
The ASX 200 snapped a three-week losing streak, though there was little conviction around the local market today, with the index slipping mildly lower by the close – although it did recover ~50 points from the morning low as US Futures traded up.
The local market softened today, though not by much, with the ASX200 index still capping off a strong week, rising +3.3% over the period as markets continued to rebound following the US-Iran ceasefire. Risk appetite cooled with investors trimming positions ahead of talks between US and Iranian officials in Pakistan over the weekend, while uncertainty around the Strait of Hormuz and the resumption of tanker traffic continues to cloud the near-term outlook for energy markets.
The ASX 200 edged higher today, extending the relief rally sparked by the Iran ceasefire announcement yesterday morning, though gains were modest as investors continued to weigh the fragility of the agreement and the ongoing disruption to traffic and oil flows through the Strait of Hormuz. The mixed tone across sectors reflected that backdrop, with energy leading gains while technology stocks gave back some of their strong advances from the prior session.
The ASX 200 posted its best session in almost a year today after the US and Iran agreed to a two-week ceasefire, triggering a sharp unwind of the war risk premium that has dominated markets over the past six weeks. The ceasefire, reportedly brokered through diplomatic channels including Pakistan, came just hours after US President Donald Trump warned he would escalate attacks on Iran’s infrastructure if shipping routes remained blocked.
The ASX 200 finished higher today, extending the recent recovery, although the market did give back some earlier gains as the session progressed. The index rallied through the morning as investors balanced improving risk sentiment against the continued uncertainty surrounding the Middle East conflict and the looming US deadline on Iran
The ASX200 gave up early gains and finished lower today after investors were rattled by a fiery speech from US President Donald Trump at midday our time, dampening hopes for a quick resolution to the Iran conflict. The index traded up as much as ~0.4% earlier in the session before reversing sharply as oil prices surged and geopolitical risks again took centre stage.
The ASX surged today, recovering from the worst monthly performance in four years as markets latched onto signs the Iran conflict could begin to wind down. The morning open was reason enough to call it a strong session, though a late 30pt rally in the final 20 minutes of trade was the cherry on top as the index closed on its highs. It was a broad rally as ten of eleven sectors finished higher with materials leading the charge, while the defensive utilities dragged as risk on sentiment returned to the bourse.
It was a story of two tales today as the ASX whipsawed from negative to positive territory at midday, before giving back most of the gains rapidly into the close. Early weakness was shaken off as the market reacted to reports that US President Donald Trump may be prepared to wind down the Iran war even if the Strait of Hormuz remains largely closed.
While the market closed lower again today, which is becoming a feature of recent Mondays, the weakest part of the session was behind us early. Headline-driven selling dominated at the open, pushing the ASX 200 down toward ~8380, but that weakness was steadily absorbed as the day wore on, with buyers stepping back in and the index grinding around 70 points off its morning lows by the close.
The ASX 200 snapped a three-week losing streak, though there was little conviction around the local market today, with the index slipping mildly lower by the close – although it did recover ~50 points from the morning low as US Futures traded up.
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