ASX Closed Higher on Thursday After Volatile Session, But Can The Rebound Continue?
Synopsis
The S&P/ASX 200 closed slightly higher on Thursday after a choppy trading session that saw the market hit a new 20-day low before recovering late in the day. Strong gains from Megaport and mining giants helped support the rebound, while optimism around improving US-China relations also lifted investor sentiment. Despite the modest gain, analysts say market confidence remains fragile as investors continue watching global trade tensions, inflation risks and broader economic uncertainty that could influence the ASX in coming sessions.
The ASX 200 ended Thursday, in a volatile trading session, the index bounced back to finish marginally higher with hopes in US-Chinese relations and impressive performances from Megaport and 4DMedical offsetting feeable performance across many of the blue-chip stocks.
Key Highlights
- ASX 200 closes up 0.12% at 8,640.70
- Index sets new 20-day low in early trade
- Megaport rises 131% on AIWin contract
- 4DMedical jumped 13.31%
- CBA bounces back while mining titans rose again
A Choppy Day For ASX Which Ended Up Slightly Green
The S&P/ASX 200 finished the volatile session in green on Thursday at 8,640.70 higher by 10.30 points or up +0.12%. Earlier, the market had dropped to a fresh 20-day low before staging a recovery towards late in trade. Despite the slight increase, the index is still down 2.67% over five sessions and largely flat so far this year. The session was characterized by numerous sharp swings across several sectors before the market finally finished little upward.
Megaport Leads Market Winners
The biggest gain in the benchmark was Megaport, which jumped 27.72% after winning major AI-related contracts totaling AUD$254 million. 4DMedical also enjoyed a strong session with the stock rising 13.31%. Commonwealth Bank advanced among heavyweight stocks, while the mining giants BHP and Rio Tinto also climbed to new record highs again. At the other end, CSL continued a recent slide while Coles Group was also weaker after the ACCC moved against it.
Global Sentiment Supports Late Recovery
Support for market sentiment also came from US-China ties, with positive comments from Donald Trump about talks he had between Xi Jinping in Beijing. Trump described the two nations as moving toward a great future together, helping to calm global markets shaken by uncertainty over global events.
Expert Take
Analysts said the market gain today was supported by optimism around US-China relations and strong performance from AI-related stocks, including Megaport. The range of the session was from one side to the other but major banking and mining shares helped add a bit more stability and head high enough overall for slightly higher finish. But analysts cautioned that optimism remained tenuous with lingering worries over world growth, trade tensions and inflation. Many feel that as the short term might continue to be volatile unless we see better economic signals
FAQs
- Which stock was the best performing?
Megaport led the charge, up 27.72%.
- Why did Megaport shares surge?
The company announced significant AI-related contract wins.
- Which major stocks performed strongly?
Commonwealth Bank, BHP and Rio Tinto all rallied.
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