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The ASX has reset its all-time closing high today, finishing at 8,597.7 points higher on a rally across Australian miners and weaker retail data out midway through the day – a report traders have taken to mean a July RBA cut is coming.
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All but one of the ASX’s sectors closed green – IT was -0.7% lower by the bell, mostly dragged down by growing drama surrounding Tesla and Elon Musk.
It was an outlier, though, with Materials leading a blistering charge for the rest; it closed +1.83% higher, followed by Real Estate, +1.82%, and Communication, which added +1.08% by the time 4pm rolled around in Sydney.
Big-time Aussie miners like Rio Tinto (ASX:RIO) and BHP Limited (ASX:BHP) added +2.1% and +1.7% respectively, while Fortescue (ASX:FMG) leapt +3.8%.
Similarly, real estate stocks like Goodman Group (ASX:GMG), Mirvac (ASX:MGR), and Stockland (ASX:SGP) were right at the heart of their sector rally and advanced around +2% each.
Dexus (ASX:DXS) did even better, closing out at $6.98 after a +3.1% jump.
There wasn’t an abundance of losers on the ASX today, considering the ATH, though Domino’s Pizza (ASX:DMP) gave it a good shake; it shaved -15% after Mark van Dyck exited.
And, Qantas (ASX:QAN) dropped -2.2% after revealing it had suffered a cyberattack where more than six million customers had personal data stolen – though considering the Medibank (ASX:MPL) crash in 2022, it could have been worse.
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Long-held HotCopper forums darling Zip Co (ASX:ZIP) lost around -5.3% today too, which may have stung holders considering it was on no news.
That’s Market Close, I’ll see you tomorrow morning for Market Open.
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