AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- ASX rebounds from six-month low, led by energy sector gains.
- Tech and energy stocks show modest recovery amid market caution.
- Bitcoin extends losses as economic uncertainty looms.
Australian equities staged a recovery on Monday after slipping to a six-month low last week, mirroring gains from Wall Street. The S&P/ASX 200 Index climbed 0.3% to 7,976.5, rebounding after briefly falling below 8,000 on Friday. The broader All Ordinaries Index also gained 0.3%, with nine out of eleven sectors trading in positive territory, led by energy stocks.
Market Sentiment Remains Cautious
While the rebound suggests renewed confidence, overall market activity remained subdued as investors brace for further volatility. The upcoming 25% tariffs on steel and aluminum exports to the U.S. are expected to take effect on Wednesday, prompting the Australian government to seek an exemption from Washington.
In the U.S., uncertainty surrounding tariffs on Canadian and Mexican goods rattled Wall Street last week. However, the tech-heavy Nasdaq Index managed to recover on Friday, rising 0.7%, after briefly entering a correction phase, having dropped more than 10% from its December peak.
Tech and Energy Stocks Lead the Recovery
Australian tech stocks followed suit, although with moderate gains. (ASX:WTC) gained 0.5%, while (ASX:XRO) edged 0.4% higher. Meanwhile, (ASX:GMG), which had lost nearly 5% on Friday, recouped 0.4%.
Energy stocks also rebounded after last week’s sharp declines. The sector had shed 6.3% due to concerns over weaker oil demand. Among the key gainers, (ASX:WDS) advanced 1%, while (ASX:STO) climbed 0.6%.
Bitcoin Struggles as Risk-Off Sentiment Grows
Cryptocurrency markets remained under pressure, with Bitcoin tumbling toward $80,000. The downturn followed comments over the weekend suggesting a potential U.S. recession, which fueled risk aversion among investors.
Corporate Updates: Takeovers, Investments, and Partnerships
In corporate news, (ASX:SGR) remains in the spotlight as it evaluates a rescue proposal from U.S. casino giant Bally’s. The casino operator's shares remain suspended following its Queen’s Wharf deal with two Hong Kong investors.
Mining and exploration stocks saw positive momentum, with (ASX:CBE) jumping 3.4% after securing a funding agreement with (NYSE:BHP) worth $40 million for exploration in Botswana.
Asset management firm (ASX:GQG) edged up 1.4%, despite reporting a significant drop in net flows in February, particularly within its emerging markets equity segment.
Additionally, (ASX:MRL) gained 1.9% after Australian businessman Gerry Harvey increased his stake in the company, signaling strong investor confidence in its Papua New Guinea-focused mining projects.
Looking Ahead
With global trade concerns still lingering, market volatility is likely to persist. Investors are keeping an eye on upcoming policy decisions, economic indicators, and corporate earnings as they navigate the current landscape.
