The ASX200 finished the week up just +0.1% after Friday's sharp, almost 100-point reversal lower from early highs, led by the banks, taking the index back towards the 8500 level. However, under the hood, not everyone danced as one, with eight of the mainboards' eleven sectors retreating, led by energy and utilities, while the advances by the heavyweight financial and resources were enough to ensure the index closed positive, albeit just:
The ASX200 finished last week down 0.5% in a lacklustre period on the index level that was characterised by tight ranges with an overall net downside bias as the proverbial “Can” was kicked down the road in the Israel-Iran conflict. The ongoing uncertainty in the Middle East helped the energy sector advance by +5.3%, while the materials sector was the standout loser, driven by gold and iron ore names. Elsewhere, it felt like we were starting to see early signs of jockeying for the tax man and book ruling off into the EOFY.
Even after slipping 0.2% on Friday, following Israel's attack on Iran, the ASX200 managed to finish last week up +0.1%, posting its 5th consecutive weekly gain - overall impressive considering the unfolding conflict. Israel’s airstrikes on Iran added a fresh wave of uncertainty among investors, following closely on the heels of Trump's promise that he intends to impose unilateral tariffs on dozens of US trading partners in the coming weeks. A weekend is a long-time when conflict breaks out, but whatever unfolds in the Middle East over the coming days/weeks, it’s likely to test the mettle of the current bull market and potentially provide an opportunity to buy weakness for the 2H of 2025:
Even after slipping 0.3% on Friday, the ASX200 advanced 1.0% for the week, closing just 100 points/1.2% below February's all-time high. Overall, it was a relatively quiet week as traders eyed the long weekend as an excuse to pull up stumps early, compounded by the uncertainty of Friday night's May Payrolls numbers (jobs data) - in hindsight, there was nothing to worry about there! Although it felt quiet, it was the market's largest one-week gain since mid-May, with the ASX200 now advancing for four consecutive weeks and set to start the fifth positively. As we approach the EOFY, it's hard to imagine following all of the Trump concerns that the ASX200 is up +9.6% for the FY, yet another example of how equities deliver over time:
The ASX 200 rallied on the final trading day of May, closing up +0.3% for the session, leaving the index just ~2% below its all-time high. Overall, an excellent performance by the Australian bourse, advancing +3.8% for the month, shrugging off the ongoing uncertainty around tariffs and rising long-dated bond yields. However, a more dovish than expected RBA, a strong banking sector, suspicions of overseas buying, and a market caught underweight stocks after their dramatic “V-shaped” recovery from Trump's “Liberation Day” was enough to drive the local market back towards the 8600 area. With pullbacks well supported in one of the most hated bullish advances that we can recall, it makes for a compelling argument that new highs are just around the corner.
The ASX 200 ended the week up 2.47% courtesy of the widely anticipated RBA rate cut and Michele Bullock's not-so-widely-expected dovish rhetoric. Credit markets are now looking for an additional three rate cuts by Christmas or February’26 at the latest. Not surprisingly, the rate-sensitive names led the advance, with tech, real estate, and financial stocks adding the most points to the index, riding the RBA wave of optimism, although there were plenty of losers on the stock level, as the macro and economic news kept on flowing.
The ASX 200 ended the week up +1.4 %, taking the month's gains to +2.7%, as the index pushed within striking distance of February's all-time high. The energy and tech sectors drove the gains, both ending the week by more than 5%, while defensive/rate-sensitive stocks dragged the chain, i.e. “risk on” was the order of the day. Out of the mainboard's 11 sectors, only the consumer staples, Utilities, and real estate sectors closed lower. The US-China “Trade Truce” set the platform for a strong start to the week, before the Australian market posted its highest level in three months on Friday after soft US economic data paved the way for interest rate cuts in Australia and the United States. The positive statistics are continuing to line up:
The ASX 200 ended a relatively quiet week down just 0.1%, not a bad effort considering ANZ and Westpac (WBC) delivered slightly softer 1H25 results, and WBC traded ex-dividend. Positive tariff news from the UK and US, plus optimism that something positive will come from the pending early talks between the US and China, supported a fairly lacklustre market, which remained in a tight 1.3% range all week. With news flow from Trump 2.0 relatively slow, the market was primarily keying off stock-specific news from reporting and the Macquarie Conference, leading to a very mixed bag in the “Winners & Losers” enclosure:
The ASX 200 surged another +3.4% last week, taking the main index up almost 15% from its April low, amazingly back within 4.4% of its February all-time high. We suspected “Offshore Buying” had been creeping into our market, and the last three sessions convinced us of it as the market again ended another week on its highs. All 11 main sectors finished the week higher, but a +9.6% surge by the tech sector stood out after strong earnings from US heavyweights Microsoft (MSFT US) and Meta Platforms (META US) re-ignited the “AI trade” and overall belief towards the tech/growth names:
Last week's wild gyrations on Wall Street shook investor confidence, but amazingly, US stocks wiped out early losses to deliver their best weekly gain since 2023. The Fear Index (VIX) spiked towards 60 on Monday before dropping to about 37 on Friday afternoon as relative calm returned to markets—a good sign into the weekend when posts can fly on X.
The ASX200 finished last week down 0.5% in a lacklustre period on the index level that was characterised by tight ranges with an overall net downside bias as the proverbial “Can” was kicked down the road in the Israel-Iran conflict. The ongoing uncertainty in the Middle East helped the energy sector advance by +5.3%, while the materials sector was the standout loser, driven by gold and iron ore names. Elsewhere, it felt like we were starting to see early signs of jockeying for the tax man and book ruling off into the EOFY.
Even after slipping 0.2% on Friday, following Israel's attack on Iran, the ASX200 managed to finish last week up +0.1%, posting its 5th consecutive weekly gain - overall impressive considering the unfolding conflict. Israel’s airstrikes on Iran added a fresh wave of uncertainty among investors, following closely on the heels of Trump's promise that he intends to impose unilateral tariffs on dozens of US trading partners in the coming weeks. A weekend is a long-time when conflict breaks out, but whatever unfolds in the Middle East over the coming days/weeks, it’s likely to test the mettle of the current bull market and potentially provide an opportunity to buy weakness for the 2H of 2025:
Even after slipping 0.3% on Friday, the ASX200 advanced 1.0% for the week, closing just 100 points/1.2% below February's all-time high. Overall, it was a relatively quiet week as traders eyed the long weekend as an excuse to pull up stumps early, compounded by the uncertainty of Friday night's May Payrolls numbers (jobs data) - in hindsight, there was nothing to worry about there! Although it felt quiet, it was the market's largest one-week gain since mid-May, with the ASX200 now advancing for four consecutive weeks and set to start the fifth positively. As we approach the EOFY, it's hard to imagine following all of the Trump concerns that the ASX200 is up +9.6% for the FY, yet another example of how equities deliver over time:
The ASX 200 rallied on the final trading day of May, closing up +0.3% for the session, leaving the index just ~2% below its all-time high. Overall, an excellent performance by the Australian bourse, advancing +3.8% for the month, shrugging off the ongoing uncertainty around tariffs and rising long-dated bond yields. However, a more dovish than expected RBA, a strong banking sector, suspicions of overseas buying, and a market caught underweight stocks after their dramatic “V-shaped” recovery from Trump's “Liberation Day” was enough to drive the local market back towards the 8600 area. With pullbacks well supported in one of the most hated bullish advances that we can recall, it makes for a compelling argument that new highs are just around the corner.
The ASX 200 ended the week up 2.47% courtesy of the widely anticipated RBA rate cut and Michele Bullock's not-so-widely-expected dovish rhetoric. Credit markets are now looking for an additional three rate cuts by Christmas or February’26 at the latest. Not surprisingly, the rate-sensitive names led the advance, with tech, real estate, and financial stocks adding the most points to the index, riding the RBA wave of optimism, although there were plenty of losers on the stock level, as the macro and economic news kept on flowing.
The ASX 200 ended the week up +1.4 %, taking the month's gains to +2.7%, as the index pushed within striking distance of February's all-time high. The energy and tech sectors drove the gains, both ending the week by more than 5%, while defensive/rate-sensitive stocks dragged the chain, i.e. “risk on” was the order of the day. Out of the mainboard's 11 sectors, only the consumer staples, Utilities, and real estate sectors closed lower. The US-China “Trade Truce” set the platform for a strong start to the week, before the Australian market posted its highest level in three months on Friday after soft US economic data paved the way for interest rate cuts in Australia and the United States. The positive statistics are continuing to line up:
The ASX 200 ended a relatively quiet week down just 0.1%, not a bad effort considering ANZ and Westpac (WBC) delivered slightly softer 1H25 results, and WBC traded ex-dividend. Positive tariff news from the UK and US, plus optimism that something positive will come from the pending early talks between the US and China, supported a fairly lacklustre market, which remained in a tight 1.3% range all week. With news flow from Trump 2.0 relatively slow, the market was primarily keying off stock-specific news from reporting and the Macquarie Conference, leading to a very mixed bag in the “Winners & Losers” enclosure:
The ASX 200 surged another +3.4% last week, taking the main index up almost 15% from its April low, amazingly back within 4.4% of its February all-time high. We suspected “Offshore Buying” had been creeping into our market, and the last three sessions convinced us of it as the market again ended another week on its highs. All 11 main sectors finished the week higher, but a +9.6% surge by the tech sector stood out after strong earnings from US heavyweights Microsoft (MSFT US) and Meta Platforms (META US) re-ignited the “AI trade” and overall belief towards the tech/growth names:
Last week's wild gyrations on Wall Street shook investor confidence, but amazingly, US stocks wiped out early losses to deliver their best weekly gain since 2023. The Fear Index (VIX) spiked towards 60 on Monday before dropping to about 37 on Friday afternoon as relative calm returned to markets—a good sign into the weekend when posts can fly on X.
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