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Australia 200 rebounds as rate cut expectations boost supermarket and real estate stocks
The Australia 200 index rose 38 points (0.48%) to 7957, poised for its best close in nearly two weeks, buoyed by supermarket stocks following ACCC findings. The real estate sector also gained amid expectations of an RBA rate cut in May, while the financial sector showed signs of recovery. Gold prices retreated from record highs, and Paladin's uranium operations were suspended due to heavy rainfall.
ASX 200 declines as traders assess US election impact on economy
The ASX 200 is down 17 points (-0.22%) at 8181 as traders assess the implications of the US election on the Australian economy. Concerns over potential US-China trade tensions have emerged, though Chinese fiscal stimulus may mitigate impacts. Big miners and energy stocks saw gains, while real estate and gold mining sectors faced declines due to rising global yields and a stronger US dollar. Sigma Healthcare's shares surged 23.4% following merger approval.
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