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Index Update: The S&P/ASX 200 closed higher on Thursday, adding 101.10 points or 1.13% to finish at 9,019.10, marking a fresh 100-day high. The rally was driven by a strong earnings season, with the index gaining 1.64% over the past five sessions and sitting right at its 52-week high. All 11 sectors ended in positive territory, led by Industrials (+3.43%), Consumer Staples (+2.14%), and Consumer Discretionary (+2.05%), while Real Estate Investment Trusts (REITs) posted the smallest gain at +0.18%.
Macro Update: India and China on Tuesday have agreed to resume direct flights and expand trade and investment ties as they seek to repair relations damaged by a 2020 border clash. The Indian foreign ministry stated that both sides would reopen border trade at three designated points and facilitate visas to boost exchanges. The move comes as the Asian neighbours cautiously rebuild engagement amid shifting global dynamics and evolving U.S. foreign policy under President Donald Trump.
Top Market Movers: Brambles Limited (ASX: BXB) led the gains, jumping 13.22% to AUD 26.30, followed by Super Retail Group Limited (ASX: SUL), which rose 12.34% to AUD 18.57. Vault Minerals Limited (ASX: VAU) also advanced 11.90% to AUD 0.47. On the downside, IPH Limited (ASX: IPH) slumped 19.50% to AUD 4.50, while Sonic Healthcare Limited (ASX: SHL) dropped 12.84% to AUD 25.05, and James Hardie Industries plc (ASX: JHX) declined 9.44% to AUD 28.98.
Commodity Update: The U.S. dollar eased Thursday as concerns grew over the Federal Reserve’s independence following fresh criticism from President Trump, ahead of Chair Jerome Powell’s upcoming remarks. Gold slipped 0.13% to USD 3,384.20, while silver rose 0.31% to USD 37.89 and copper edged down 0.02% to USD 9,733.15. Brent crude gained 0.50% to USD 67.20, supported by a sharp decline in U.S. inventories, with markets also tracking the prospects for a Russia-Ukraine peace deal for supply cues.
Our Stance: The S&P/ASX 200’s rise to a 100-day high highlights earnings momentum, broad-based sector gains, and improved investor sentiment, even as volatility risks remain. Industrials and consumer-related sectors led the advance, reflecting resilience in domestic demand. At the macro level, India and China’s agreement to resume direct flights and expand trade signals improving regional engagement. However, global uncertainty lingers, with commodity prices reacting to Fed policy concerns and geopolitical developments. In such a scenario, near-term optimism is justified, but sustained progress will depend on earnings stability and geopolitical clarity.
In its latest session, the S&P/ASX 200 Index advanced 101.10 points to close at 9,019.10, buoyed by a bullish candlestick formation and strong trading volumes, clear indications of sustained investor confidence. On the daily chart, the index remains well above its 21-period Simple Moving Average (SMA), which continues to act as dynamic support and reinforces the short-term bullish outlook. A key support level is established at 8,980.30, with sustained trade above this zone critical to preserving the integrity of the uptrend. On the upside, a decisive breakout above this support-turned-resistance area would provide strong bullish confirmation, potentially unlocking further upward momentum and strengthening market sentiment in favor of the bulls. From a broader perspective, the index’s steady position above the 21-period SMA on the weekly chart underscores its robust long-term bullish foundation.







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