ASX Rebounds from Sharp Fall as CBA Gains and US Futures Steady

April 22, 2025 12:49 PM AEST | By Team Kalkine Media

Google News:

ASX Rebounds from Sharp Fall as CBA Gains and US Futures Steady — Image source: shutterstock

Recent News

Wood Panel Wall USA Introduces Acoustic Slat Panels to Enhance Sound Q...

World Digital Introduces Innovative E‑Commerce Strategies Amid Global...

Alex Miller Keeps Classic Country Flame Burning With Alan Jackson Song...

Trump earns over $600 million from crypto, holds assets worth at least...

Highlights

ASX steadies losses as US futures signal a rebound

Gold hits fresh highs amid US dollar weakness

CBA and AMP offer market support while tech stocks retreat

The Australian sharemarket experienced a volatile session but managed to pare back some of its early losses, buoyed by gains in key financial names and signs of stability from US markets. The S&P/ASX 200 Index dipped slightly by 8.3 points or 0.1% to close at 7810.8, recovering from a more significant 1% drop earlier in the day. The All Ordinaries also eased 0.1%.

The volatility was largely influenced by sharp overnight moves in global markets after US President Donald Trump lashed out at Federal Reserve Chairman Jerome Powell. Calling him a "loser" and demanding lower interest rates, Trump’s remarks stirred uncertainty across financial markets. As a result, the S&P 500 fell 2.4%, and gold surged above $US3400 an ounce, reaching record highs as the US dollar weakened, propelling the Australian dollar above US64¢.

The risk-off tone weighed heavily on the Australian tech and real estate sectors. Notably, software solutions provider WiseTech Global (ASX:WTC) slid 2.1%, while data centre operator NextDC (ASX:NXT) declined 3.6%. Property firm Goodman Group (ASX:GMG) also fell 1.5%, pulling the real estate sector lower.

Meanwhile, energy stocks tracked global oil market softness. Brent crude prices slipped overnight, dragging oil players down. Woodside Energy (ASX:WDS) lost 1.4%, and Ampol (ASX:ALD) shed 1.7%.

Despite broader weakness, a few heavyweights lent some resilience to the market. Commonwealth Bank of Australia (ASX:CBA) rose 1.4%, offsetting broader index losses and signaling investor appetite for more defensive plays amid volatility.

Among the top movers, Macquarie Group (ASX:MQG) climbed 1.3% following the announcement of a strategic divestment. The bank confirmed the $2.8 billion sale of its North American and European public asset management businesses to Nomura, with the units managing over $285 billion in assets.

AMP Limited (ASX:AMP) also rose 1.8%, benefiting from an improved valuation outlook. Investors appeared to respond to optimism around the company's restructuring efforts and balance sheet strength, which analysts say are already factored into its share price.

In contrast, uranium explorer Deep Yellow (ASX:DYL) dropped 6.9% after deferring work on its Namibian mine due to weak uranium prices.

While the day began with heightened uncertainty, the rebound in US futures and selective strength in key domestic names helped the ASX recover poise, suggesting cautious optimism may persist if global sentiment stabilizes.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.