AUS
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UK
CA
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Highlights
- ASX opens slightly higher amid global caution
- Energy and materials sectors support early gains
- Tech and healthcare weigh on overall momentum
Australian shares opened modestly higher in early Thursday trade, with the local market holding its ground despite global uncertainty and a cautious mood ahead of the Easter long weekend. The benchmark S&P/ASX 200 index rose 10.7 points, or 0.14%, to 7,769.60 in the opening 30 minutes of trading.
Investors appeared to tread carefully following sharp overnight losses on Wall Street, where U.S. indices were dragged down by fresh concerns over global trade tensions. These were triggered by a write-down from chipmaker Nvidia and cautionary remarks by Federal Reserve Chair Jerome Powell about the broader economic impact of tariffs.
Back home, strength in the energy and materials sectors provided early support to the Australian bourse. The energy segment led gains as shares of Woodside Energy (ASX:WDS) and Santos (ASX:STO) jumped more than 2% each. Positive developments for both companies helped lift sentiment within the sector, bolstering overall market performance despite weakness elsewhere.
In the materials space, BHP Group (ASX:BHP) traded 0.6% higher after the mining heavyweight reaffirmed its full-year production outlook, even as its third-quarter production report showed mixed results. Meanwhile, Rio Tinto (ASX:RIO) advanced 2%, marking one of the session’s strongest early movers, whereas Fortescue Metals Group (ASX:FMG) slipped 0.8%, slightly weighing on the sector's broader gains.
Financial stocks, typically a key driver for the local index, were mixed. Only two of the Big Four banks were in positive territory, limiting momentum from other outperforming sectors. A softer showing in the healthcare and technology sectors also capped broader gains. Notably, tech shares such as Xero (ASX:XRO) were under pressure in line with global peers following the overnight selloff in U.S. tech stocks.
Overall, market activity remained subdued, as investors looked to preserve capital heading into the extended holiday break. With mixed signals from global markets and renewed concerns around economic headwinds, local equities may continue to exhibit cautious trading patterns in the sessions ahead.
Despite the measured rise, today's early trade paints a picture of resilience in select sectors, particularly among commodity exporters and energy producers, reflecting Australia's leverage to global demand and resource strength.
