The ASX200 has hit yet another all-time high of 8,566 points in morning trade. The record was driven by a strong lead from Wall Street as well as buoyant mining and real estate stocks.
The Reserve Bank Board has kept interest rates on hold at 4.35% in line with consensus expectations. RBA Governor Michelle Bullock says the bank wants to be more convinced.
The ASX200 closed up 0.46% at 7,813 points, as the market continues to recoup last weeks losses. The Information Technology sector climbed 2% higher in the wake of a solid Friday session on Wall Street.
The ASX200 closed the day up, about half a per cent, leading up to the King's birthday public holiday long weekend. The Consumer Discretionary sector was the strongest, up nearly 1.2% on news global central banks are dropping interest rates, with Europe and Canada having made the first moves.
The ASX200 closed the day up more than a per cent (1.08%).All sectors bar one finished in the green. Energy fell 1.5 per cent, but Healthcare lead gains, nearly two per cent (1.97%). Telecommunications followed, up 1.7 per cent.
It’s now been three months in a row that US inflation data has come in higher than expected and, with that, predictions around interest rate cuts have been pushed back from July to November.
The ASX200 closed the first trading session of 2024 in record territory. It was hovering within just a few points of the August 2021 peak for much of the day, and ended up half a per cent at 7627.8 points.