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Highlights
- ASX200 gains on positive cues from US-China trade discussions
- Energy and mining sectors post strong early gains
- Zip (ZIP) tops the index after upbeat earnings outlook
Australia’s share market saw a strong start to the trading session today, with the ASX200 benchmark index rising 40.4 points or 0.47% to reach 8,627.6 by mid-morning. The local bourse mirrored Wall Street’s optimism as investors responded positively to signs of progress in trade negotiations between the United States and China.
A majority of the market sectors—10 out of 11—opened in the green, with notable strength in the energy and mining spaces. Energy stocks led the broader gains, climbing 1.7% in early trade. Woodside Energy (ASX:WDS) saw a robust 3% lift, while Santos (ASX:STO) added 1.2%, reflecting an upbeat outlook amid stable oil prices.
Mining giants also contributed significantly to the upward momentum. BHP (ASX:BHP) advanced 2%, followed by Fortescue Metals Group (ASX:FMG) with a 1.9% rise and Rio Tinto (ASX:RIO) gaining around 1%. This rally comes as investors factored in a potentially more stable trade environment and its implications for global commodity flows.
Among individual equities, Zip Co (ASX:ZIP) emerged as the day’s strongest performer within the ASX200, soaring 17.2%. The surge followed the company’s upgraded full-year earnings guidance—its second upward revision—highlighting improved financial performance and growing consumer demand for its services.
Not far behind, Fletcher Building (ASX:FBU) saw its stock climb 9.3% after it confirmed acquisition interest from multiple unnamed parties. This has stirred speculation around potential consolidation activity in the building materials sector.
However, not all stocks joined the rally. Lynas Rare Earths (ASX:LYC) declined 5.2%, snapping its recent momentum. The fall followed the announcement of an in-principle agreement between the US and China, which may reduce short-term urgency for rare earth supply alternatives—an area where Lynas had previously drawn investor interest due to export restrictions from China.
Investors looking for stable income streams are keeping an eye on ASX dividend stocks, a category that could benefit from ongoing sector strength, particularly in energy and materials.
As trade relations improve and earnings season progresses, Australian equities—especially those in the S&P/ASX200—are positioned for continued investor attention. Energy, resources, and select growth names are playing a key role in steering market sentiment this week.
