ASX 200 and All Ordinaries Lift as Tech Stocks Drive Gains, BHP and FMG Slip – ASX Share Market Today

Highlights

• Tech sector leads gains on the ASX with WTC, XRO, and 360 rising

• Major miners BHP, RIO, and FMG trade lower amid iron ore and copper weakness

• ASX 200 and All Ordinaries index climb while AUD dips slightly

The Australian share market opened May on a strong note, marking another upward session for the ASX 200 and the All Ordinaries. Gains in the technology sector helped lift the indices despite headwinds from weaker performances in mining and energy stocks. The ASX 200 edged higher, with tickers like WTC and XRO contributing significantly. The broader All Ordinaries index also moved in the same direction, reinforcing positive sentiment across select sectors.

Technology Stocks Outperform on Strong Overseas Earnings

The information technology sector was the standout performer of the session. WiseTech Global (ASX:WTC) recorded notable gains, continuing a positive trend bolstered by international market momentum. Xero (ASX:XRO) and Life360 (ASX:360) also advanced, with both stocks supported by broader enthusiasm for the tech space following strong overseas earnings reports. The sector’s performance aligned with an earlier uptick in the US technology-heavy Nasdaq, which lifted sentiment on the domestic bourse.

Financial Stocks Mixed as CBA Extends Gains

Among the financial stocks, Commonwealth Bank of Australia (ASX:CBA) extended its recent rally, finishing higher and nearing record levels. The other major banks showed mixed performance. Westpac Banking Corporation (ASX:WBC) ended marginally down, while National Australia Bank (ASX:NAB) and Australia and New Zealand Banking Group (ASX:ANZ) both edged lower. The divergence within the sector highlighted a cautious trading tone across the broader financial space.

Mining Sector Slips Amid Iron Ore and Copper Decline

Mining stocks pulled back as commodity prices weakened in global trade. BHP Group (ASX:BHP) traded lower after iron ore futures in Singapore slipped. Rio Tinto (ASX:RIO) also declined, as did Fortescue Metals Group (ASX:FMG), reflecting pressure from reduced demand indicators and economic signals out of China. The downturn in metals was further evidenced by a notable drop in copper futures, contributing to declines in related stocks such as Sandfire Resources (ASX:SFR) and Capstone Copper (ASX:CSC).

Energy Sector Tracks Lower with Oil Price Drop

Energy stocks experienced declines as global oil benchmarks moved lower. Woodside Energy Group (ASX:WDS) and Santos (ASX:STO) both finished the session in the red, following a dip in crude oil prices. The moves mirrored broader unease in commodity markets, amplified by developments in major global economies that influenced investor sentiment across resource-linked sectors.

Retail Sector Sees Selective Gains Led by Supermarkets

In company-specific news, Woolworths Group (ASX:WOW) posted an increase in group sales for the recent quarter, with growth primarily driven by its supermarket operations. Shares in Woolworths closed higher following the report. Coles Group (ASX:COL) also advanced, following its own sales update released earlier. However, Woolworths flagged weaker performance in its Big W division, reflecting diverging trends within the broader retail landscape.

AUD Weakens Amid Global Trade Developments

The Australian dollar eased slightly during the session amid rising concerns about global trade conditions. Factors impacting the currency included fresh economic data from the United States and China, including shrinking GDP figures and manufacturing activity declines. Tariff-related developments out of the US contributed to trade uncertainty, adding further complexity to the currency's short-term movements.

Banking Challenger Slides on Revised Growth Outlook

Judo Capital Holdings (ASX:JDO) faced a sharp decline in its share price after revising its business growth expectations. The update signaled a more conservative approach to lending expansion, prompting a reaction in the market that saw the stock retreat significantly during the session.