AUS
NZ
UK
CA
USA
IND
Highlights
- The ASX 200 moved closer to a record high, gaining momentum amid easing tariff concerns.
- News Corp (ASX:NWS) surged over 5% following strong revenue growth in its real estate segment.
- Energy stocks lagged as Brent crude prices dipped below US$75 per barrel.
ASX Gains as Tariff Uncertainty Eases
The Australian Securities Exchange (ASX) showed strength in early trading, approaching a record high. Market sentiment improved as concerns over trade tariffs receded, helping the ASX 200 index climb nearly 1% during the midday session.
Overnight, global markets also saw gains, with US equities rebounding. More than half of the S&P 500 companies registered advances, particularly in the technology sector. Nvidia led the AI segment with a strong upward move, while Alphabet experienced its steepest decline in over a year following a weaker-than-expected financial update.
Sector Performance and Key Movers
Most sectors on the ASX recorded gains, with 10 of 11 sectors trading in positive territory. Energy stocks, however, struggled as oil prices saw a decline. Brent crude dipped below US$75 per barrel, leading to a slowdown in energy-related equities.
News Corp (ASX:NWS) was among the top performers, rising over 5% after announcing a 5% increase in quarterly revenue. The company’s strong performance was largely driven by its real estate division, REA Group, which delivered record-breaking revenue figures.
Conversely, Beach Energy (ASX:BPT) faced downward pressure, slipping 4.5% after narrowing its profit guidance for the upcoming fiscal year. Despite a reported profit increase of 37%, investor sentiment remained cautious due to the revised outlook.
Market Trends and Economic Indicators
Economic data released earlier in the session highlighted a significant rise in the US trade deficit, which reached US$1.2 trillion for the year. The strengthening US dollar weighed on exports, raising broader concerns about global trade flows. Meanwhile, gold briefly surged to an all-time high of US$2,882 per ounce before retreating slightly.
Closer to home, data from ASX Limited (ASX:ASX) showed a sharp decline in new stock listings, with the total value of IPOs in the first half of the year down 72% compared to the prior corresponding period. Despite this, ASX shares managed to climb 1% during the session.
Looking at Broader Market Sentiment
Investor sentiment appeared buoyed by the easing of tariff concerns, allowing equities to gain traction. However, uncertainties in the energy sector and currency fluctuations continued to introduce volatility into the market.
The ASX’s broad-based gains suggest resilience, with technology and real estate sectors driving upward momentum. As the session progresses, attention remains on external economic factors and corporate updates that could influence market direction.
