Australia Equities Track Wall Street Gains

2026-05-21 02:49 By Farida Husna 1 min. read

Australian stocks jumped 145 points, or 1.7%, to 8,641 by midday Thursday, rebounding from the prior session’s weakness.

The rally tracked an overnight Wall Street rally after U.S.

President Trump said Washington was in the “final stages” of negotiations with Iran, according to a pool report, boosting investor optimism.

Locally, inflation expectations eased in May after hitting an over three-year high in April.

Meanwhile, flash data on Australia's factory activity showed a continued growth in May despite the reading softening from April.

However, strength was capped by domestic labor market data indicating the highest jobless rate in over four years in April, with employment falling for the first time since November.

Gains were almost broad-based, led by electronic tech, financials, producer manufacturing, and logistics.

Among standouts were Mineral Resources (4.3%), Qantas Airways (3.8%), BHP Group (3.2%), and Evolution Mining (3.0%).

The four major banks climbed between 1.1% to 2.4%.



News Stream
Australia Equities Track Wall Street Gains
Australian stocks jumped 145 points, or 1.7%, to 8,641 by midday Thursday, rebounding from the prior session’s weakness. The rally tracked an overnight Wall Street rally after U.S. President Trump said Washington was in the “final stages” of negotiations with Iran, according to a pool report, boosting investor optimism. Locally, inflation expectations eased in May after hitting an over three-year high in April. Meanwhile, flash data on Australia's factory activity showed a continued growth in May despite the reading softening from April. However, strength was capped by domestic labor market data indicating the highest jobless rate in over four years in April, with employment falling for the first time since November. Gains were almost broad-based, led by electronic tech, financials, producer manufacturing, and logistics. Among standouts were Mineral Resources (4.3%), Qantas Airways (3.8%), BHP Group (3.2%), and Evolution Mining (3.0%). The four major banks climbed between 1.1% to 2.4%.
2026-05-21
ASX 200 Slips 1.3% at Close
The S&P/ASX 200 dipped 108 points, or 1.3%, to finish at 8,497 on Wednesday, erasing prior gains as U.S. equity futures retreated amid renewed Middle East tensions and inflation worries. Local caution deepened after the central bank projected underlying inflation above 3% until late 2027, easing to the midpoint only by mid-2028. Still, losses were tempered by China's decision to hold key lending rates at record lows for a 12th straight month, with policymakers pledging “supportive” and “moderately loose” settings after Q1 GDP grew 5%, hitting the top of the government’s 4.5–5% target. Sector weakness was broad, led by non-energy minerals, transport, financials, and process industries. Among notable laggards were Evolution Mining (-5.2%), Brambles Ltd. (-4.8%), REA Group (-2.2%), and Origin Energy (-2.0%). The four big banks dropped between 0.7% to 2.5%. Traders now brace for Australia's PMI readings for May and April job data, set to be released on Thursday.
2026-05-20
Australia Shares Trade Lower
Australian equities slid 43 points or 0.5% to 8,563 in early deals on Wednesday, reversing strength in the prior session as U.S. stock futures fell amid elevated bond yields and renewed geopolitical tensions in the Middle East. Sentiment also turned cautious after the Reserve Bank’s May meeting minutes suggested underlying inflation in Australia is likely to remain above 3% until late 2027, underscoring persistent domestic cost pressures. Still, losses were partly limited by an improvement in consumer sentiment in May, with the index rebounding from April’s 2-1/2-year low. Mining and technology-related shares led the decline, particularly non-energy minerals, process industries, and electronic technology stocks, while retail trade and energy miners provided some support. The four major banks traded lower, falling between 0.4% and 1.1%. Among notable decliners were heavyweight BHP Group (-2.2%), Evolution Mining (-3.6%), Northern Star Resources (-2.4%), and South32 Ltd. (-2.0%).
2026-05-20