Australia Stocks Rebound, Yet Weekly Loss Persists

2026-05-01 01:20 By Farida Husna 1 min. read

Australian equities rose 62 points, or 0.7%, to 8,727 in early deals on Friday, the first trading day of May, snapping an eight-session losing streak and bouncing back from a three-week low.

Bargain hunting drove broad-based gains, with non-energy minerals and industrial services leading.

An upward revision in April manufacturing PMI also lifted investor sentiment despite weaker output and soft underlying demand at home and abroad.

Meanwhile, U.S.

stock futures strengthened following record-high closes on Wall Street's S&P 500 and Nasdaq Thursday, amid strong earnings from Apple and Caterpillar, even as economic data weakened and geopolitical risks linger.

Lynas Rare Earths jumped 3.1%, followed by BHP Group (2.8%), Evolution Mining (2.2%), and Fortescue (1.4%).

However, markets are tracking a third straight weekly drop, down about 0.7% so far, as persistent inflation pressures weigh.

Concerns also linger that the Reserve Bank may raise cash rates further when officials meet next week.



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Australia Stocks Rebound, Yet Weekly Loss Persists
Australian equities rose 62 points, or 0.7%, to 8,727 in early deals on Friday, the first trading day of May, snapping an eight-session losing streak and bouncing back from a three-week low. Bargain hunting drove broad-based gains, with non-energy minerals and industrial services leading. An upward revision in April manufacturing PMI also lifted investor sentiment despite weaker output and soft underlying demand at home and abroad. Meanwhile, U.S. stock futures strengthened following record-high closes on Wall Street's S&P 500 and Nasdaq Thursday, amid strong earnings from Apple and Caterpillar, even as economic data weakened and geopolitical risks linger. Lynas Rare Earths jumped 3.1%, followed by BHP Group (2.8%), Evolution Mining (2.2%), and Fortescue (1.4%). However, markets are tracking a third straight weekly drop, down about 0.7% so far, as persistent inflation pressures weigh. Concerns also linger that the Reserve Bank may raise cash rates further when officials meet next week.
2026-05-01
ASX 200 Recovers in April Despite Loss Streak
The S&P/ASX 200 fell 21 points or 0.2% to close at 8,666 on Thursday, the final trading day of April, marking its eighth straight decline and holding at a three-week low. Caution prevailed as markets braced for a possible 25bps rate hike from the Reserve Bank of Australia next week, following moves in February and March, with rates seen rising to 4.60% by September, the level last reached in 2011, amid persistent cost pressures. Inflation accelerated to 4.6% in March from 3.7%, staying above the RBA's 2–3% target. In the U.S., a divided Fed held rates steady on Wednesday amid a looming leadership change. Woolworths slumped 7.8%, dragging consumer staples after warning fiscal 2026 food earnings would miss the upper range amid fuel costs. Miners shed 2.7% as base metals weakened, with BHP, Rio Tinto, and Fortescue down between 2.0% to 2.8%. Against the ongoing decline, local markets advanced 2.2% for the month, reversing a slump of nearly 8% in March, supported by strong bargain hunting.
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Australian Shares Dip to 3-Week Low, Yet Monthly Gains in Sight
Australian shares slipped 46 points, or 0.5%, to 8,641 in Thursday’s morning session, marking an eighth straight decline and a three-week low. Sentiment stayed weak as cost pressures persisted, with March consumer inflation accelerating to 4.6% from the prior 3.7%, reinforcing expectations of further cash rate hikes at next week’s central bank meeting. In the U.S., a divided Federal Reserve held rates steady on Wednesday as policymakers weighed persistent inflation and an impending leadership transition. Middle East tensions also deepened after President Trump directed aides to prepare for an extended blockade of Iran, driving oil prices higher. Major laggards included Woolworths Group (-6.9%), Coles Group (-4.5%), Northern Star Resources (-3.3%), and BHP Group (-1.6%). Despite the slide, the ASX 200 is on track to gain in April, up nearly 2% so far, supported by bargain hunting after a near 8% tumble in March.
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