Image Source : Krish Capital Pty Ltd
Index Update: The S&P/ASX 200 Index slipped 8.40 points to close at 8,550.80 on Thursday, marking a marginal decline. Over the past five sessions, the benchmark has risen 0.32% but remains 1.02% below its 52-week high. Sectoral performance was mixed, with seven of the 11 sectors ending the day in negative territory. Health Care emerged as the top performer, advancing 0.48% on the day and 0.50% over the five-day period.
Macro Update: Household wealth in Australia rose 0.8% (AUD 137.1 billion) in the March quarter 2025, driven by a 1.2% (AUD 125.3 billion) increase in residential land and dwelling values, according to the Australian Bureau of Statistics (ABS). This property value growth contributed approximately 0.7 percentage points to overall wealth gains. However, national investment fell by AUD 21.7 billion to AUD 157.7 billion, with general government investment declining by AUD 3.2 billion to AUD 25.9 billion due to reduced capital formation across all levels of government. In labour market trends, job vacancies rose 2.9% to 339,400 in May 2025, rebounding after a decline recorded in the February quarter.
Top Market Movers: Top gainers on the ASX included Clarity Pharmaceuticals (ASX: CU6), which surged 14.35% to close at AUD 2.39, followed by Iluka Resources (ASX: ILU), up 6.88% to AUD 3.73, and Neuren Pharmaceuticals (ASX: NEU), rising 6.14% to AUD 13.31. On the downside, Xero (ASX: XRO) dropped 5.26% to AUD 184.00, while Sigma Healthcare (ASX: SIG) and Nick Scali (ASX: NCK) fell 3.83% and 3.45%, respectively.
Commodity Update: The U.S. dollar slipped to a 3.5-year low against the euro on Thursday amid concerns over the Federal Reserve's independence. Reports suggested President Trump should consider replacing Fed Chair Jerome Powell, which shook investor confidence. Gold rose 0.36% to USD 3,355.20, silver gained 0.55% to USD 36.31, and copper added 0.54% to USD 9,782.00. Brent crude climbed 0.20% to USD 67.80, supported by strong U.S. demand and Middle East ceasefire uncertainties.
Our Stance: The ASX 200’s slight dip of 8.40 points reflects short-term consolidation amid mixed sectoral trends and cautious investor sentiment. Encouragingly, job vacancies rose 2.9% in May, and household wealth saw a 0.8% lift in Q1 2025, supported by property value gains—signaling resilience in consumer fundamentals. However, falling national investment and broader global uncertainty, including U.S. monetary policy concerns, suggest ongoing volatility.
The S&P/ASX 200 index faced a challenging trading session, closing down by 8.40 points, forming a small bearish candlestick pattern, and accompanied by increased trading volume. However, the index remains above the 50-period Simple Moving Average (SMA), which now serves as a critical support level. On the daily chart, there is significant support around the 8,460.50 mark, making it a key level for market participants to watch. If the index can maintain its position above this support level, it could help solidify recent gains and instill greater confidence in the market’s upward trajectory. Additionally, the index is trading above the 21-period SMA on the weekly chart, which is a positive sign for potential sustained momentum in the longer term. The alignment of technical indicators across both daily and weekly timeframes provides a bullish outlook, suggesting that the index may demonstrate resilience against market fluctuations and has the potential for continued upward movement, provided it holds above key support levels.







Please wait processing your request...