The Australian sharemarket ended a volatile week on a downbeat note, with the S&P/ASX 200 falling on Friday amid ongoing investor unease this week amid United States President Donald Trump’s tariff moves and subsequent 90-day pause.
The benchmark ASX 200 index closed 63.1 points, or 0.8%, lower at 7,646.5, trimming some of the historic gains from the previous session.
Despite the fluctuations, the index managed to finish the week just 0.3% lower overall. Eight of the eleven sectors ended the day in the red.
Healthcare stocks led the declines, with heavyweights CSL, ResMed, Sonic Healthcare, and Ramsay Health Care down 3.6%, 1.8%, 1.6%, and 3.8%, respectively.
Utilities also retreated as AGL lost 5.2%, Origin Energy dipped 1.2%, and Mercury NZ fell 3.1%.
Energy stocks fell in line with global crude prices, with Santos, Woodside, and Beach Energy each down between 1.1% - 3.3%.
Markets were spooked this week by Trump’s decision to sharply increase tariffs on Chinese imports to a cumulative 145%, even as he announced a 90-day suspension of heightened duties for most other trading partners.
Reserve Bank of Australia Governor Michele Bullock acknowledged the economic uncertainty arising from the tariff upheaval, cautioning that it was “too early to judge” the full effects.
“Inevitably, there will be a period of uncertainty and adjustment as countries respond to the ongoing tariff announcements by the United States administration,” Bullock said on Thursday.
“It will take some time to see how all of this plays out, and the added unpredictability means we need to be patient as we work through how all of this could affect demand and supply globally.”
Among individual companies, Monash IVF Group tanked 35.8% after it revealed that a woman had given birth to another couple’s baby due to an error at one of its fertility clinics.
On the bond markets, 10-year yields were up 0.8% at 4.36%, while 2-year yields were down 0.6% to 3.267%.
