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Highlights
- ASX expected to extend gains following strong Wall Street lead
- Lithium and graphite names draw market attention
- Miners in focus as quarterly updates roll in
The Australian share market looks set to maintain its upward momentum, mirroring a positive session on Wall Street that lifted US indices to fresh record highs. As the ASX continues its record-breaking streak, investors are closely watching global developments and commodity movements. Among the sectors gaining traction, lithium and graphite names have emerged as key focus areas, supported by supportive policy shifts in China and the US. In the broader rally, some ASX 200 stocks are benefitting from renewed optimism across commodities and mining.
Technology, materials, and financials were among the strongest performers in the latest ASX session. Smaller stocks also saw gains, with market participants showing interest in energy and mining plays. Notably, lithium stocks surged on reports pointing to supply constraints in China, adding momentum to an already strong commodities-led rally.
Meanwhile, macroeconomic data revealed a slight increase in unemployment, sparking discussions around future interest rate adjustments by the Reserve Bank. Despite this, investor sentiment remained largely upbeat as earnings reports and robust retail data from the US helped buoy global equities.
In corporate announcements, several junior explorers and developers were in the spotlight:
- (ASX:RML) confirmed a new operational lead for its US-based Horse Heaven project, with an eye on progressing critical minerals development.
- (ASX:LU7) completed a strategic acquisition aimed at enhancing its clean energy tech capabilities, gaining exclusive rights to a university-patented recycling technology.
- (ASX:HFR) extended its exclusivity agreement with a Chinese strategic partner, aiming to firm up a significant investment deal.
- (ASX:DYM) announced progress on its exploration front, securing approvals for its upcoming drill campaign at Chalice South.
- (ASX:AS2) reported encouraging signs of copper mineralisation in Ethiopia, suggesting strong potential for resource expansion with further exploration.
On the resource front, commodities remained mixed. Crude oil gained amid geopolitical uncertainties, while metals remained relatively stable. Gold and copper showed slight softness, while iron ore prices edged higher. In China, lithium carbonate prices advanced, following enforcement actions on unauthorised mining.
Back home, (ASX:BHP) shared its quarterly update, noting that its iron and copper output was in line with expectations, easing earlier concerns linked to demand conditions in China.
Graphite players are also coming into sharper focus after the US imposed a significant import duty on Chinese graphite, potentially opening up new opportunities for ASX-listed producers.
Global cues, resource updates, and sector-specific tailwinds continue to steer the ASX toward further gains, with resource and tech names playing central roles in shaping the market’s direction.
