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ASX Market Overview
On Thursday, 1 May 2025, the S&P/ASX 200 index closed at 8,145.6, gaining 19.4 points (0.24%) from the previous day. Although the day’s performance appeared subdued compared to previous sessions of substantial gains, it demonstrated solid resilience in the Australian share market.
Sector Performance
Technology stocks led the charge, with a significant surge of over 4%, driven by positive movements in companies such as Megaport (MP1), Technology One (TNE), and Xero (XRO), which were featured prominently in the ChartWatch ASX Scans Uptrends list. Similarly, the Real Estate sector continued to show strength, with Endeavour Group (EDV) rising by 5%.
Conversely, the Energy and Resources sectors faced challenges, primarily due to losses by Woodside Energy (WDS), which fell 2.6%, and ongoing struggles in gold stocks affecting the broader Resources index.
Market Summary
For a comprehensive outlook, in-depth technical analysis on the US Nasdaq Composite, S&P/ASX 200, and US Bonds is available in today’s ChartWatch edition.
Key Index Movements
| Domain | Value | Change (%) |
|---|---|---|
| ASX 200 | 8,145.6 | +0.24% |
| All Ords | 8,365.7 | +0.30% |
| Small Ords | 3,068.3 | +0.49% |
| All Tech | 3,620.1 | +2.28% |
| Emerging Companies | 2,220.2 | -0.11% |
Currency and Futures
| Currency | Value | Change (%) |
|---|---|---|
| AUD/USD | 0.6399 | -0.05% |
| US Futures | Value | Change (%) |
|---|---|---|
| S&P 500 | 5,642.0 | +0.98% |
| Dow Jones | 40,977.0 | +0.51% |
| Nasdaq | 19,930.5 | +1.38% |
Technical Insights
The ASX 200 exhibited a modest gain while maintaining a positive outlook for short-term demand. Observing trends from the US Treasury yields, particularly the 2-Year T-Bond, suggests investors should stay alert to shifts in expectations regarding Federal Reserve policy and overall economic health.
Notable Stock Movements
Top Gainers:
- Andromeda Metals (ADN): +78.6% (HPA breakthrough achieved)
- Dimerix (DXB): +41.7% (Licensing news in the US)
- AMA Group (AMA): +21.0% (Solid quarterly update)
Top Losers:
- Judo Capital (JDO): -16.9% (Trading update disappointment)
- Antipa Minerals (AZY): -10.3% (Gold sector weakness)
- Coronado Global Resources (CRN): -10.3% (Downgrade by brokers)
Broker Recommendations
Key broker moves include AIC Mines (A1M) retained at buy with a target price of $0.670; Actinogen Medical (ACW) maintained at buy across multiple firms; Northern Star Resources (NST) downgraded to hold at Bell Potter, with a target of $20.85.
Economic Calendar
Upcoming Data Releases:
- Thursday: US ISM Manufacturing PMI for April forecasted at 48.0.
- Friday: Significant US employment data, including Non-Farm Employment Change and Unemployment Rate, expected to yield considerable insights into economic health.
Conclusion
As the ASX continues on a positive trajectory, the interplay between sector performances, particularly the tech and real estate sectors against weaker energy stocks, paints a mixed but cautiously optimistic picture. Market participants are encouraged to remain vigilant of global economic indicators and domestic market trends as volatility persists in various sectors.
