AUS
NZ
UK
CA
USA
IND
Highlights
- ASX eyes second straight monthly gain
- Tech and energy stocks dip amid broader resilience
- Positive sentiment boosted by easing global trade concerns
The Australian share market is poised to record a second consecutive monthly gain, underpinned by easing global trade tensions and investor optimism, despite pockets of weakness in key sectors. The benchmark S&P/ASX 200 was trading slightly lower by 0.1% at 8405.4 points by mid-afternoon but remains on track for a 3.4% gain in May, following April’s 3.6% climb. The broader All Ordinaries index also dipped 0.1% but is headed toward an eighth straight weekly advance.
A US federal court recently ruled against certain trade tariffs imposed during the Trump administration, contributing to hopes of reduced friction in global trade. While the White House later reaffirmed its stance on maintaining tariffs, the broader market mood appears to be buoyed by expectations of a more stable trade environment between the US and China. This has provided a cushion for the ASX300 index, reinforcing investor confidence across multiple sectors.
However, the technology sector bore the brunt of the risk-off sentiment, with WiseTech Global (ASX:WTC) dropping 2.6% and Xero (ASX:XRO) falling 1.9%. Energy stocks also declined following a sharp pullback in oil prices, affecting major players like Woodside Energy (ASX:WDS) and Santos (ASX:STO), both of which fell 1.3%.
On a more positive note, banking stocks showed resilience. Commonwealth Bank (ASX:CBA) edged higher by 0.6%, while National Australia Bank (ASX:NAB) gained 0.8%. A slight decline in April’s retail sales appeared to drive support toward more defensive sectors like healthcare and consumer staples, often favoured by investors seeking stable ASX dividend stocks.
In the lithium segment, stocks retreated after a bearish sector outlook. IGO (ASX:IGO) fell 4.2%, Pilbara Minerals (ASX:PLS) declined 4.6%, and Mineral Resources (ASX:MIN) slipped 2.1%, reflecting broader concerns about future spodumene pricing.
Among standout performers, HealthCo Healthcare & Wellness REIT (ASX:HCW) surged 9.3% following an agreement with tenant Healthscope regarding deferred rent arrangements. Meanwhile, NRW Holdings (ASX:NWH) rose 1.4% after securing a $157 million infrastructure contract from Rio Tinto (ASX:RIO), although Rio itself dropped 0.9%.
Elsewhere, Findi (ASX:FND) fell 8.9% despite reporting a 54% increase in underlying profit, signaling that market expectations had already priced in stronger results. Viva Energy (ASX:VEA) slipped 1.5% even as its proposed LNG terminal took a major regulatory step forward with an environmental assessment approved by the Victorian government.
As the month concludes, investor sentiment appears cautiously optimistic, supported by signs of easing international tensions and a preference for resilient and defensive market segments. The ASX300’s steady performance underscores the market’s ability to balance volatility with strategic sector rotation.
