The ASX 200 rallied for a seventh consecutive day on Thursday. Although the gain of less than 2% has been relatively modest, the sellers remain largely absent as bank dividends are due to hit investors' accounts next month, and the EOFY looms.
The ASX 200 struggled early on Wednesday before rallying into the close to finish the session up just over 10 points, enjoying its sixth day of consecutive gains, and posting its highest close in 11 weeks. There might not have been too much buying into strength this week, but in comparable fashion, sellers weren’t keen to increase cash levels into weakness.
The ASX200 advanced +0.4% on Tuesday, posting a new 12-week high, but overall it was a disappointing performance after an early +1% move, especially compared to the 3.3% overnight surge by the US S&P 500 Index.
The ASX200 struggled on Monday, failing to embrace a strong opening by the US S&P 500 futures after the US and China reported “substantial progress” after two days of talks in Switzerland aimed at de-escalating the worrying trade war. The main board opened strongly up almost 50 points before drifting lower throughout the session to finish basically unchanged as optimism around trade succumbed to caution.
Senior US and Chinese negotiators resumed the high-stakes talks on Sunday in an attempt to de-escalate their trade war/embargo. President Donald Trump called Saturday's discussions a “very good” meeting. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were leading the negotiations expected to span two days in Switzerland, the first publicised, in-person talks since President Donald Trump imposed 145% levies on China and Beijing retaliated with 125% tariffs on many American goods and new export controls on rare earth minerals.
The ASX200 embraced the rumours that Trump's much-awaited “good news” was a trade deal with the UK, which, on top of the previous day’s announcement that the US and China would sit down and talk this week in Switzerland, was enough to lift the local index up +0.16% after a soft opening.
The ASX 200 lived in the future rather than the past on Wednesday, ignoring a weak overnight session on Wall Street, instead focusing on the fresh news that U.S. Treasury Secretary Scott Bessent and top trade official Jamieson Greer would meet with their Chinese counterparts this week in Switzerland.
The ASX200 slipped 0.1% on Tuesday, posting its second consecutive negative session, although it's hardly made a dent in the aggressive 15% recovery from the early April panic lows. Trading was relatively subdued with fund managers focused on the Macquarie Australia Conference, which is often regarded as an early confession opportunity. Results were mixed on Tuesday, but the presentations continue to move markets as investors look for clues around what comes next, outside of the chatter around Trump and the weekend Federal Election.
The ASX200 struggled on Monday following a mildly softer report from Westpac (WBC), the first influential bank to face the music this month. Their headline first-half miss on profit, a flat dividend (76c) when the market was looking for an increase and a slight net interest margin (NIM) contraction sent the 4th largest stock on the bourse down 3% on the day.
The S&P 500 has extended its post “Liberation Day” rally to the longest winning streak in two decades, with worries around tariffs being replaced by “Fear of Missing Out” (FOMO) for cashed-up investors. A strong jobs report on Friday compounded optimism that the US and China’s dialogue around tariffs would prove fruitful.
The ASX 200 struggled early on Wednesday before rallying into the close to finish the session up just over 10 points, enjoying its sixth day of consecutive gains, and posting its highest close in 11 weeks. There might not have been too much buying into strength this week, but in comparable fashion, sellers weren’t keen to increase cash levels into weakness.
The ASX200 advanced +0.4% on Tuesday, posting a new 12-week high, but overall it was a disappointing performance after an early +1% move, especially compared to the 3.3% overnight surge by the US S&P 500 Index.
The ASX200 struggled on Monday, failing to embrace a strong opening by the US S&P 500 futures after the US and China reported “substantial progress” after two days of talks in Switzerland aimed at de-escalating the worrying trade war. The main board opened strongly up almost 50 points before drifting lower throughout the session to finish basically unchanged as optimism around trade succumbed to caution.
Senior US and Chinese negotiators resumed the high-stakes talks on Sunday in an attempt to de-escalate their trade war/embargo. President Donald Trump called Saturday's discussions a “very good” meeting. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were leading the negotiations expected to span two days in Switzerland, the first publicised, in-person talks since President Donald Trump imposed 145% levies on China and Beijing retaliated with 125% tariffs on many American goods and new export controls on rare earth minerals.
The ASX200 embraced the rumours that Trump's much-awaited “good news” was a trade deal with the UK, which, on top of the previous day’s announcement that the US and China would sit down and talk this week in Switzerland, was enough to lift the local index up +0.16% after a soft opening.
The ASX 200 lived in the future rather than the past on Wednesday, ignoring a weak overnight session on Wall Street, instead focusing on the fresh news that U.S. Treasury Secretary Scott Bessent and top trade official Jamieson Greer would meet with their Chinese counterparts this week in Switzerland.
The ASX200 slipped 0.1% on Tuesday, posting its second consecutive negative session, although it's hardly made a dent in the aggressive 15% recovery from the early April panic lows. Trading was relatively subdued with fund managers focused on the Macquarie Australia Conference, which is often regarded as an early confession opportunity. Results were mixed on Tuesday, but the presentations continue to move markets as investors look for clues around what comes next, outside of the chatter around Trump and the weekend Federal Election.
The ASX200 struggled on Monday following a mildly softer report from Westpac (WBC), the first influential bank to face the music this month. Their headline first-half miss on profit, a flat dividend (76c) when the market was looking for an increase and a slight net interest margin (NIM) contraction sent the 4th largest stock on the bourse down 3% on the day.
The S&P 500 has extended its post “Liberation Day” rally to the longest winning streak in two decades, with worries around tariffs being replaced by “Fear of Missing Out” (FOMO) for cashed-up investors. A strong jobs report on Friday compounded optimism that the US and China’s dialogue around tariffs would prove fruitful.
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