AUS
NZ
UK
CA
USA
IND
Highlights
- ASX200 climbs amid global trade relief
- Technology stocks lead, WiseTech surges
- Gold miners slide as investors shift to equities
The Australian sharemarket made a strong upward move on renewed global optimism after the US and China reached a temporary trade agreement. The S&P/ASX 200 rose 0.6%, or 51.2 points, reaching 8284.7 by midday—its highest level since February. This upward momentum was echoed across the broader ASX300 index, benefiting several major sectors, particularly technology and energy.
Technology shares were standout performers, boosted by a major rally in US tech overnight. WiseTech Global (ASX:WTC) surged 6.9%, supported by strong global momentum in logistics software. Life360 (ASX:360) rocketed 15.9% following a rise in monthly active users, signaling improving revenue prospects.
This sentiment boost followed the announcement that the US and China agreed to scale back tariffs for a 90-day period while committing to further dialogue. Wall Street responded with enthusiasm, sending the Nasdaq up 4.4% and propelling tech giants like Amazon and Meta higher.
Back home, energy stocks advanced as Brent crude prices topped US$64 per barrel. Woodside Energy (ASX:WDS) and Santos (ASX:STO) both saw gains exceeding 2%, extending the upward trend that began on Monday.
However, not all sectors joined the rally. Gold miners saw significant declines as investors rotated out of safe-haven assets. Capricorn Metals (ASX:CMM) dropped 11.7%, while Ramelius Resources (ASX:RMS) followed closely, down 11.1%. This came as gold prices slid below US$3300 following the global shift toward equities.
The pharmaceutical sector rebounded after recent weakness. Clarity Pharmaceuticals (ASX:CU6) surged 19.4% and Telix Pharmaceuticals (ASX:TLX) gained 4%, amid expectations of changes to US prescription drug pricing policy.
In corporate activity, Ampol (ASX:ALD) edged up 0.9% after confirming the divestment of its retail electricity operations in Australia and New Zealand. Meanwhile, AGL Energy (ASX:AGL) slipped 2.9% and Meridian Energy (ASX:MEZ) fell 1.1%, reflecting market reaction to the transaction.
Storage-focused REIT Abacus Storage King (ASX:ASK) gained 1% after rejecting an acquisition bid from Public Storage and Ki Corporation. An independent review deemed the $1.47-per-share proposal undervalued the business.
Vista Group (ASX:VGL) added 1.2% after announcing a software rollout across 25 cinemas operated by Regal Cineworld Group in the UK.
For those tracking dividend-paying stocks, the uplift in broader indices like the ASX300 has turned focus toward potential opportunities within the ASX dividend stocks segment. Investors keeping an eye on market momentum can explore more about ASX dividend stocks and the latest movements in the ASX300 index.
