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Highlights:
ASX 200 closed 0.78% higher at 7,819.1 as resource stocks attracted broad buying.
Energy sector surged 3.82%, driven by gains in Woodside Energy, Ampol, and Karoon Energy.
Rare earths, lithium, and base metals saw strong moves despite weaker commodities pricing.
The S&P/ASX 200 advanced 60.2 points, closing 0.78% higher at 7,819.1, marking its best level of the session. The broader S&P/ASX 300 index recorded 220 advancing stocks versus 59 decliners. For the week, the ASX 200 added 2.26%, tracking strength across commodities-linked sectors.
Technical Perspective
The ASX 200 posted a white-bodied candle, closing near session highs. The move followed a strong showing in US markets overnight, though no significant developments emerged from Fed Chair Jerome Powell’s commentary to directly account for the risk-on sentiment. The index remains within range of key resistance zones, with upcoming sessions likely to reflect offshore influence due to an extended Easter break for local trading.
Outlook Factors
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Resource sector flows remain strong despite commodity price softness.
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Market participants continue responding to macro policy expectations in the US, with trade policy and inflation signals shaping sentiment.
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Volatility in labour market data and central bank commentary remains in focus ahead of May’s RBA meeting.
