Markets

Insights on global financial markets, including stocks, currencies, and more.

Markets
ASX 200 glimpses 2wk high; A-REITs, staples lead gains
The Australian sharemarket advanced for a fifth consecutive session on Wednesday, closing at two-week highs as local investors monitored the Federal Budget release and easing inflation data. The ASX 200 added 56.5 points or 0.7%, to close at 7,999.0. Gains were broad-based, with 10 of 11 sectors finishing in positive territory. Real estate investment trusts (A-REITs) saw notable gains, with Mirvac Group rising 0.9%, Goodman Group adding 1%, Charter Hall up 0.7%, and Stockland gaining 1%. Scentre Group surged 3.3%, leading the sector. Consumer staples also performed strongly, with Woolworths and Coles advancing 1.7% and 1.5%, respectively. Financial companies climbed 1.1% overall. Macquarie Group edged up 0.5%, while the major banks posted solid gains, with ANZ up 3%, NAB rising 0.7%, Westpac adding 1.2%, and Commonwealth Bank gaining 1.1%. On the economic front, fresh data from the Australian Bureau of Statistics (ABS) showed that the Consumer Price Index (CPI) rose 2.4% in the 12 months to February, slightly below market expectations of 2.5%. Among corporate developments, private clothing retailer Jeanswest announced plans to shut more than 90 stores, leading to hundreds of job losses. In bond markets, yields
Markets
Gold eases below record highs amid fresh tariff concerns
Gold prices held steady above the US$3,000 mark during Asian trade on Wednesday, consolidating recent gains as investors weighed the impact of renewed United States tariff threats on the global economy. By 4:05 pm AEDT (5:05 am GMT) spot gold was down $5.71 or 0.2% to US$3,013.70 per ounce. Market focus returned to the potential economic fallout from U.S. tariffs, which could drive gold prices higher. According to the Toronto Star, U.S. President Donald Trump may introduce three levels of escalating tariffs, with Canada likely facing the lowest tier in the 2 April rollout. Meanwhile, Bloomberg News reported that the U.S. administration plans to implement copper import tariffs within weeks. The renewed tensions have raised concerns about U.S. economic stability, keeping the U.S. dollar’s upside limited and reinforcing demand for gold. Gold prices remain well-positioned for further gains as markets brace for the 2 April tariff announcement. However, a stronger-than-expected U.S. Durable Goods Orders report could bolster expectations for an interest rate cut by the Federal Reserve later this year, potentially limiting gold’s rally. Geopolitical developments also remain in focus, as the U.S. announced agreements w
Markets
Markets: Oil prices tick higher as supply tightens
Oil prices rose during Asian trading on Wednesday as concerns over tighter supply grew following United States President Donald Trump’s threats to impose tariffs on countries importing oil and gas from Venezuela. By 3:25 pm AEDT (4:25 am GMT), Brent crude futures were up $0.16, or 0.3%, at $73.20 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained $0.19, or 0.3%, to $69.19 per barrel. On Monday, Trump signed an executive order under the 1977 International Emergency Economic Powers Act, authorising 25% tariffs on imports from any country purchasing Venezuelan crude oil or liquid fuels. Venezuela, which relies heavily on oil exports, counts China - already a target of U.S. import tariffs - as its largest buyer. The U.S. administration also extended a deadline until 27 May for U.S. energy firm Chevron to wind down its Venezuelan operations. Meanwhile, ANZ analysts noted: "Crude oil prices were relatively unchanged as traders assessed the latest efforts on a ceasefire in the Russia-Ukraine war. Ukrainian President Volodymyr Zelensky agreed to implement a partial truce. "The U.S. also said that Russia has agreed to develop measures for implementing a ban on striking Ukraine's energy assets. "A po
Markets
APAC benchmarks climb as Wall St ticks up overnight
Asia-Pacific markets traded higher at the start of Wednesday's trade, following small gains on Wall Street overnight amid rising expectations that United States President Donald Trump’s tariffs may be less severe than previously anticipated. By 11:25 am AEDT (12:25 am GMT), Australia’s S&P/ASX 200 climbed 0.6%, trading at two-week highs, while Japan’s Nikkei 225 advanced 0.7% and South Korea’s Kospi 200 added 0.5%. Among economic updates, Australia’s consumer price index came in at 2.4% in February, slightly below market expectations of 2.5%. Meanwhile, the Australian federal government released its annual budget, focusing on power bills, healthcare, and worker rights, with a modest tax cut included. Overnight in the U.S., all three major indices closed higher. The Dow Jones Industrial Average added 4.2 points, or 0.01%, to settle at 42,587.5, the S&P 500 added 0.2% to 5,776.7, and the Nasdaq Composite rose 0.5% to 18,271.9. In commodities, Brent crude slipped 0.8% to US$72.39 per barrel, while spot gold prices rose 0.3% to US$3,020.09 per ounce. Chinese equities saw mixed performance, with the Shanghai Composite closing flat at 3,370.0, while the CSI 300 dipped 0.1% to 3,932.3. Elsewhere in Asia, Hong Kong’
Markets
ASX open: Australian shares set for post-Budget rally
Australian shares are expected to open higher on Wednesday as investors consider the significance of the latest Budget from the Labor Government before Australians go to the polls. At 9:45 am AEDT (10:45 pm GMT Tuesday) the S&P/ASX 200 June share price index contract was up 47 points (0.58%) from the previous settlement at 7,986, supported by a stronger end on Wall Street. This gives the index a shot at bursting back up through the 8,000 people barrier for the first time in two weeks. The main United States benchmark indices finished just in positive territory on Tuesday (Wednesday AEDT)with the Dow Jones Industrial Average adding 0.01%, the S&P 500 putting on 0.2% and the Nasdaq Composite jumping 0.5%. CommSec said investors assessed U.S. consumer sentiment data and bet on a more flexible trade policy stance from the Trump administration next week. The Australian market had closed 0.1% higher on Tuesday at 7,942,5 points. On the fixed interest markets, the 10-year Australian Treasury bond yield rose 0.41% to 4.461% and the two-year yield added 0.51% to 3.777%.

Markets
Markets: US futures extend modest gains on Wall Street
United States stock futures traded slightly higher on Tuesday night (Wednesday AEDT), extending a session of modest gains amid continuing tariff uncertainties and weaker-than-expected consumer confidence data. By 9:15 am AEDT (10:15 pm GMT), futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were each up 0.1%. In after-hours trading, GameStop surged 7% after its board unanimously approved a plan to invest corporate cash into Bitcoin, mirroring a recent move by MicroStrategy. During Tuesday’s session, the Dow Jones Industrial Average added just 4.2 points, or 0.01%, the S&P 500 edged up 0.2%, and the Nasdaq Composite gained 0.5%. Despite the market’s positive close, consumer confidence data released on Tuesday highlighted growing concerns among U.S. consumers, with their near-term outlook on income, business, and job prospects falling to a 12-year low. Looking ahead to Wednesday’s session, investors will monitor February’s preliminary durable goods orders data, as well as earnings reports from companies including Chewy, Dollar Tree, and Cintas.
Markets
US indices gain slightly; tariff speculation continues
Major United States benchmark averages finished slightly higher on Tuesday (Wednesday AEDT), touching fresh two-week highs as investors assessed the potential scope of U.S. tariffs and economic data. The Dow Jones Industrial Average ticked up 4.2 points, or 0.01%, to settle at 42,587.5, the S&P 500 added 0.2% to close at 5,776.7, while the Nasdaq Composite gained 0.5%, ending at 18,271.9. Markets showed resilience despite a weaker-than-expected consumer confidence report. The Conference Board’s monthly index dropped to a four-year low of 92.9, missing forecasts of 94, while the expectations component plunged to a 12-year low of 65.2, raising concerns about future economic conditions. Investors remained focused on trade policy as the White House signalled a possible narrowing of upcoming reciprocal tariffs, set to take effect on 2 April. President Donald Trump suggested some nations might receive exemptions but confirmed that duties on industries such as pharmaceuticals and autos remain under consideration. On the bond markets, 10-year and 2-year yields eased 0.5% apiece to 4.315% and 4.020%, respectively.
Markets
Small gains for the ASX 200 continue as tech pops 1.9%
The Australian share market ended in positive territory on Tuesday, buoyed by gains in technology stocks as investors welcomed reports that the United States may take a more targeted approach to reciprocal tariffs. The S&P/ASX 200 rose 5.60 points or 0.1% to close at 7,942.5. Six of 11 sectors finished higher, with the technology sector leading gains, rising 1.9%. Among major tech names, Megaport advanced 2%, Computershare gained 0.5%, Xero climbed 1.3%, Wisetech Global surged 3.8%, and Block added 0.8%. The healthcare sector also strengthened 1%, with CSL up 1.4%, Fisher & Paykel Healthcare rising 1.9%, and ResMed gaining 1.5%. In contrast, the mining sector weighed on the index, with Rio Tinto slipping 0.3%, BHP losing 0.7%, and Fortescue Metals declining 1.3%. Meanwhile, Gold Road Resources surged 13.9% after rejecting an unsolicited $3.3 billion takeover bid from Gold Fields. Meanwhile, James Hardie tumbled 5%, closing at fresh 21-month lows as investors reacted negatively to concerns that the company’s $14 billion bid for Azek was excessive. On the bond markets, yields moved lower, with 10-year rates falling 0.8% to 4.429% and 2-year yields declining 1% to 3.741%.
Markets
Gold defends US$3,000; tariffs, ceasefire talks in focus
Gold prices rose modestly during Tuesday's Asian session, marking their first gain in four, as traders defended the US$3,000 psychological level amid uncertainty over United States President Donald Trump’s tariffs and ongoing Ukraine ceasefire discussions. By 4:10 pm AEDT (5:10 am GMT) spot gold was up by $6.29 or 0.2% to US$3,018.41 per ounce. Lingering uncertainty over potential U.S. tariffs and the long-term stability of Russia-Ukraine ceasefire talks revived demand for safe-haven assets, limiting the recent recovery in the U.S. dollar. Meanwhile, Asian stocks declined, with major Chinese benchmarks remaining under pressure due to growing concerns over U.S. trade policies, as well as domestic economic risks. On Monday, the U.S. dollar extended its rebound to fresh two-week highs, supported by expectations that Trump’s tariffs may be less severe than initially feared. Additionally, hawkish comments from Atlanta Fed President Raphael Bostic and strong U.S. S&P Global preliminary business PMI data further boosted the Greenback, weighing on the gold price. Bostic indicated that he no longer expects two rate cuts this year, instead projecting just one in 2025. Looking ahead, traders will focus on U.S. Conferen