AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
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IND
POL
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RUS
CHN
UAE
Highlights
- - ASX trades flat ahead of early market closure for holidays.
- - Health Care and Real Estate sectors lead gains, while Industrials lags.
- - Nasdaq rallies overnight, driven by semiconductor giants.
The Australian Securities Exchange (ASX) is trading flat in mid-morning sessions, slightly up at 8,208 points. Investors are gearing up for an early market closure at 2:10 PM AEDT today, with the exchange closed on Christmas, Boxing Day, and New Year’s Day. Activity remains subdued as traders prepare for a quieter holiday period.
Sector performances are varied, with the Health Care sector standing out with a 0.86% rise, followed by Real Estate at 0.63%. On the other hand, Industrials is underperforming, down 0.3%. The mixed trends indicate selective movement across the market, with holiday trading volumes expected to thin further.
Overnight, US markets reflected gains led by the Nasdaq, which rose 0.98%. Prominent semiconductor companies, including NVIDIA (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), and AMD (NASDAQ:AMD), were the key drivers of this rally, posting gains ranging between 3.7% and 7.5%. The broader S&P 500 gained 0.73%, and the Dow Jones added 0.16%, highlighting positive sentiment across various sectors in the United States.
Commodity markets are showing mixed signals. The Australian dollar remains stable at 62.48 US cents, reflecting steadiness in currency exchange. Gold declined by 0.73%, trading at US$2,625.7 per ounce, while iron ore held firm at US$103.84 per tonne.
Back home, the Reserve Bank of Australia’s (RBA) December meeting minutes, due later at 11:30 AM AEDT, are being closely watched by market participants. These insights may shed light on the monetary policy outlook for 2025, particularly amid ongoing economic uncertainties.
In the global landscape, upcoming US economic data, including unemployment claims, are expected to provide further clarity on economic trends. Additionally, geopolitical tensions, such as a US investigation into China’s chip industry, are being monitored closely as they could influence broader market sentiments.
The holiday period often brings thinner trading volumes, which can lead to increased volatility. Market participants are advised to remain vigilant about unexpected price movements. The ASX will reopen in the new year, with trading activity expected to resume fully.
As the year winds down, the focus remains on monitoring key economic indicators and preparing for the potential shifts in global and domestic markets.
