ASX 200 Closes Higher Led by Gains in Technology and Entertainment Stocks

May 20, 2025 06:05 PM AEST | By Team Kalkine Media
 ASX 200 Closes Higher Led by Gains in Technology and Entertainment Stocks
Image source: shutterstock

Highlights

  • ASX 200 ended the day in the green, supported by strength in tech and REIT sectors

  • TNE reached a new all-time high, with SKC and PRN also marking notable gains

  • KGN, NAN, and RMD recorded the session’s largest declines

Australia’s benchmark ASX 200 index ended higher as shares across technology, real estate, and telecom services posted positive movements. The session saw increased activity in major tickers, with select names hitting multi-year and all-time highs. The index was buoyed by a mix of robust corporate performance and sector-specific momentum.

Technology and Software Stocks Drive Momentum

Technology One Ltd (ASX:TNE), a software company known for enterprise solutions, led the broader market with a significant upward move. The stock reached a record closing level, reflecting heightened demand and market confidence in its growth trajectory. TNE’s gains came amid wider optimism in the ASX 200 Information Technology index, which was among the best-performing segments of the session.

Entertainment and Mining Support Broader Gains

Skycity Entertainment Group Ltd (ASX:SKC) saw a firm rise in its share price, helping to bolster gains in the broader index. The stock closed higher as investor sentiment leaned positively toward the entertainment space. Mining services company Perenti Global Ltd (ASX:PRN) also advanced, marking a multi-year high. Its performance contributed to strength in the industrials sector, underpinning further gains in the ASX 200.

Volatility Declines as Market Breadth Improves

The ASX 200 VIX, a gauge of implied volatility, moved lower, indicating a relatively calmer trading environment. Advancing stocks outpaced decliners on the Sydney Stock Exchange, with a notable number of names ending unchanged. This improvement in breadth added to the market’s overall stability.

Key Laggards in Healthcare and Retail

Kogan.com Ltd (ASX:KGN) ended the session lower, reflecting weakness in the online retail space. Nanosonics Ltd (ASX:NAN), a healthcare-focused firm, also posted a sharp decline. Additionally, Resmed Inc DRC (ASX:RMD) dropped, contributing to the drag on the healthcare segment of the index.

Sector Indices and Broader Market Metrics

Other key sector indices such as the ASXIJ (Industrials), ASXTJ (Telecom), and AXPJ (Property) recorded solid advances. Meanwhile, the ASXVI (Volatility Index) moved downward. In the commodities space, contracts for crude oil and gold both edged lower. Currency movements showed a slight dip in AUD against both the USD and JPY, while the US Dollar Index marked a minor decrease.

Commodities and Currencies

Gold futures slipped alongside crude oil prices, which retreated slightly in both major benchmarks. The Australian Dollar declined in value when paired with the Japanese Yen and the US Dollar, mirroring broader forex trends.


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