With fresh intraday record for the ASX200 around 8,650points now back on in play post-April-2nd, an obvious question has been playing on our minds here at HotCopper.
(My eyes and ears tell me that question is being asked here, and, further abroad in the Australian economy.)
It would depend on a lot of factors, most of all, a solid six-month-run of investor certainty broadly not being challenged. Somehow, that feels far off.
But if BHP’s +2% rise today on no news is anything to good by, clearly, some investors in the Australian landscape are bullish on a better second half for CY2025. Time will tell.
But 9,000pts would be pretty good to see.
Let’s move to sectors. Real Estate was the best performer around twenty minutes past close; IT suffered the worst, but volatility is to tech what wetness is to the ocean.
Let’s turn to companies ending in the green.
As mentioned, BHP (or The Big Australian if you’d rather) ended in the green on Wednesday as some investors saw a promising future ahead after members of Trump’s inner circle suggested a new deal with China isn’t far away.
Elsewhere, Johns Lyng Group rocketed to a +18% closing price as the company was lobbed a takeover offer, adding another feather to a bow of big M&A moves on the ASX in recent history.
Finally, we saw a strong finish for HotCopper favourite ZIP Co, which is volatile at the best of times but stands out as a stock that popped during lockdown and, years later, still remains hotly watched. Especially after it upgraded guidance.
And so what about companies in the red?
Dateline Resources, spearheading what is predominantly an REE play in the US, continues to get hit by sellers as hype stalls following Trump mentioning the stock directly on Truth Social in relatively recent history.
Same too for Gorilla Gold Mines, which declined -11% at close following what, in my view, is clearly a lull in momentum – but don’t worry, 1Y returns are still up +1,264%.
Finally, sticking with sell-off syndrome, Electro Optic Systems declined as a recent boost for defence stocks broadly, going back to last week, lost steam.
That’s Market Close for Wednesday; from HotCopper, have a good night and we’ll see you tomorrow!