Will Energy and Tech Names Propel the S&P/ASX 200 and ASX All Ordinaries Higher?

2 min read | May 23, 2025 05:49 PM AEST | By Team Kalkine Media

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Will Energy and Tech Names Propel the S&P/ASX 200 and ASX All Ordinaries Higher? — Image source: Shutterstock

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Highlights

Modest gains for the S&P/ASX 200 and ASX All Ordinaries as bond yields stabilised

Energy and technology lines delivered the session’s strongest quotation advances

Selected retail and industrial issuers recorded the most pronounced retreats

Operating within the equity markets of the S&P/ASX 200 and the ASX All Ordinaries, the Australian sharemarket secured a positive close amid steadier global bond yields and advancing fiscal policy signals from overseas capitals.

Market Drivers

A proposed tax‐cut measure passing the US House of Representatives helped soothe international market nerves, while a stabilisation in long-term government borrowing costs supported broader risk appetite. These overseas developments filtered through to the domestic session, underpinning demand for yield-sensitive and growth-linked equities.

Energy Sector Leadership

Producers of oil and gas led sector contributions, with key issuers under the energy banner registering above-average advances on heavy turnover. Participants cited stronger dispatch metrics and renewed export contract flows as factors in the uplift, while broader commodity references provided additional tailwinds for hydrocarbon holdings.

Technology Line Advances

Technology names outperformed within the information and communications grouping, buoyed by updates on licence renewals and recurring subscription inflows. Market participants showed heightened interest in digital infrastructure providers and software platform operators, driving quotation gains across the subindex.

Retail and Industrial Retreats

Retail-oriented issuers recorded some of the day’s largest setbacks, as inventory management disclosures and comparable-sales metrics tempered quotation. Industrial equipment and transport services lines also saw downward pressure, with participants recalibrating positions ahead of scheduled sector updates and global supply-chain commentary.

Trading Patterns

Overall turnover matched recent average levels, with intraday trading sessions characterised by balanced buy-sell interest across both advancing and retreating lines. Block-trade activity surfaced in energy and technology segments, while auction phases in the afternoon reflected tighter bid-ask spreads. Offshore bond and policy cues continued to influence opening trade before local sector developments took precedence.

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