AUS
NZ
UK
CA
USA
IND
Highlights
- ASX 200 lifts 0.6%, supported by retail and property sectors
- Nvidia touches $US4 trillion market value, drives Wall Street strength
- Bitcoin surpasses $US112,000 amid widespread tech rally
Australian shares advanced in early trading, following a strong performance on Wall Street where Nvidia Corporation (NASDAQ:NVDA) became the first company in history to trade above a $US4 trillion valuation. The S&P/ASX 200 Index climbed 51.4 points or 0.6% to reach 8590 as of 10:43am AEST, buoyed by widespread gains across sectors. Nine of the eleven sectors posted increases, with retail and real estate showing notable rebounds after a dip caused by recent central bank rate decisions.
The real estate segment reversed its prior two-day slide, attributed in part to the Reserve Bank's unexpected decision to keep interest rates unchanged earlier in the week. Within the sector, Charter Hall Group (ASX:CHC) advanced by 1.7%, while other major players such as Goodman Group (ASX:GMG), GPT Group (ASX:GPT), Scentre Group (ASX:SCG), and Dexus (ASX:DXS) all registered gains of approximately 1%. The upswing reflected renewed confidence in property-linked equities as borrowing costs remained stable in the short term.
Supermarket majors Woolworths Group Ltd (ASX:WOW) and Coles Group Ltd (ASX:COL) both added over 1%, contributing to the sector-wide momentum. These consumer staples have remained resilient amid broader market volatility, supported by defensive demand and improved investor sentiment around domestic consumption trends.
Across the Pacific, developments in trade policy emerged with significant implications for global markets. The United States administration announced plans to impose a 50% tariff on goods from Brazil, effective August 1. Additional duties of varying rates were outlined for other countries, including a 30% tariff on Algeria, Libya, Iraq, and Sri Lanka; 25% on Brunei and Moldova; and a 20% tariff on imports from the Philippines. These policy shifts signaled growing protectionism in global trade flows, though their impact on risk assets remained subdued in the immediate term.
Investor enthusiasm was largely concentrated on technology shares, spearheaded by Nvidia Corporation (NASDAQ:NVDA), which surged 1.8% to close at $US162.88. This propelled the company’s market capitalisation to $US3.97 trillion by close, with intra-day trading briefly lifting it above the historic $US4 trillion mark. The rally was catalyzed by commitments from key clients to accelerate investments in artificial intelligence infrastructure, highlighting the centrality of Nvidia’s semiconductor technology in powering AI adoption.
The optimism extended into cryptocurrency markets, with [Bitcoin] soaring past $US112,000 for the first time on record. This milestone coincided with a broader risk-on sentiment, fueling gains in both large-cap and smaller tech equities. The digital asset’s surge reflected growing institutional interest and momentum-based buying, reinforced by the prevailing uptrend in technology-related valuations.
The Australian market’s response reflected both global cues and domestic recalibrations, as equities adjusted to central bank positioning and external macroeconomic developments.
