The Australian sharemarket continued its upward momentum, reaching a new all-time high for the second consecutive day. Real estate stocks led the charge, boosting the S&P/ASX 200 Index close to the 8500-point milestone.
The Australian sharemarket hit a new all-time high for the second consecutive day on Monday as real estate stocks surged, with the index closing just shy of the 8500-point mark. The S&P/ASX 200 Index climbed 0.3 per cent, or 23.8 points, to 8417.60, surpassing Friday’s record close. The index has gained nearly 3 per cent this month, fuelled by investor optimism surrounding the incoming Trump administration. The All Ordinaries also rose by 0.3 per cent.
Seven out of the 11 sectors advanced on Monday. Real estate emerged as the top performer, with Mirvac adding 3.3 per cent to $2.11, Vicinity Centres gaining 2.3 per cent to $2.19, and Goodman Group increasing 1.5 per cent to $37.81. The energy sector also moved higher as oil prices held recent gains amid escalating tensions in the Ukraine-Russia conflict. Woodside jumped 1.2 per cent to $25.36. Meanwhile, coal miners faced headwinds, while mining giants ended mixed in volatile trading despite strengthening iron ore prices. Rio Tinto shed 0.4 per cent to $116.71, BHP remained unchanged at $40.20, and Fortescue edged up 0.4 per cent to $18.38. Financials also lagged after APRA maintained its stringent serviceability buffer for mortgages due to high household debt, persistent cost-of-living pressures, and a weakening jobs market. Although the regulator’s update contributed to the subdued performance of banks, profit-taking was likely the primary driver, according to Ryan Felsman, chief economist at ComSec. Banks had rallied 6 per cent in November. ANZ dipped 1.3 per cent to $31.83, National Australia Bank fell 1.2 per cent to $39.61, and Westpac declined 1.2 per cent to $33.41. Commonwealth Bank bucked the trend once again, extending its record-breaking run with a new intraday high of $160.27. It closed the session up 0.7 per cent at $160.14.Shares in Bendigo and Adelaide Bank dropped 1.7 per cent to $13.37 as profit takers entered the market
Australian Sharemarket S&P/ASX 200 Real Estate Record High Trump Administration
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