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Index Update: The Australian equity benchmark closed higher on Tuesday, driven by gains in technology and healthcare stocks. The S&P/ASX 200 rose 59.90 points, or 0.70%, to finish at 8,630.30, marking a fresh record high. Over the last five days, the index has gained 0.46% and is currently 0.10% off its 52-week high. Ten of eleven sectors advanced, with Information Technology leading the rally, up 2.16% after recovering from recent declines.
Macro Update: Consumers stand to save AUD 1.2billion annually under a sweeping Reserve Bank of Australia proposal unveiled Tuesday, aiming to ban all surcharges on credit and debit card transactions across eftpos, Mastercard, and Visa networks. The plan also demands banks disclose hidden retailer fees and seeks to lower interchange fees, benefiting 90% of businesses. The RBA’s overhaul goes significantly further than measures previously proposed by the Albanese government.
Top Market Movers: Life360 Inc. (ASX: 360) led gains on the Australian market Tuesday, climbing 7.97% to close at AUD 35.23. Paladin Energy Ltd (ASX: PDN) followed with a 7.85% rise to AUD 7.69, while Lifestyle Communities Limited (ASX: LIC) advanced 7.71% to AUD 4.47. Among the top decliners, Pilbara Minerals Limited (ASX: PLS) fell 4.55%, Nufarm Limited (ASX: NUF) slipped 2.88%, and Sigma Healthcare Limited (ASX: SIG) dropped 2.49%.
Commodity Update: The dollar held firm on Tuesday amid trade talks and ahead of key U.S. inflation data and bank earnings. Oil prices slipped after President Trump gave Russia a 50-day deadline to end the Ukraine war or face energy sanctions. Japanese bond yields hit multi-decade highs ahead of elections. In commodities, gold dipped 0.02%, silver fell 0.74%, copper eased 0.25%, and Brent crude edged down 0.20% to USD69.06.
Our Stance: The Australian share market’s record high reflects broad-based strength, with technology and healthcare stocks leading the charge. The RBA’s proposed ban on card surcharges and push for greater fee transparency could deliver AUD 1.2 billion in consumer savings, supporting domestic spending. However, commodity softness and global macro risks, including U.S. inflation data, trade tensions, and geopolitical uncertainty, temper the outlook. While near-term momentum remains positive, a selectively optimistic approach is prudent, focusing on sectors with pricing power and exposure to structural tailwinds amid a still-fragile global environment.
In its latest trading session, the S&P/ASX 200 Index rose 59.90 points to close at 8,630.30, supported by a bullish candlestick pattern and strong trading volumes signals that reflect continued investor confidence and enthusiasm. Technically, the index remains firmly above its 21-period Simple Moving Average (SMA), reinforcing a near-term positive outlook. A key level to watch is resistance at 8,650.60. A decisive breakout above this threshold could mark a significant bullish development, potentially reshaping market sentiment and opening the door for further gains. From a broader perspective, the index’s position above the 50-period SMA on the weekly chart further solidifies its long-term bullish foundation. However, sustaining the current upward momentum hinges on the index’s ability to surpass and hold above the 8,650.60 resistance level.
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