ASX rises, oil producers sell off; storm hits Rio exports
Friday, January 24, 2025       07:20 WIB

Australian shares edged higher at the open, tracking gains on Wall Street after US equities notched a record high overnight.
The S&P/ASX 200 index lifted 0.3 per cent, or 21.4 points, to 8400.1. Eight of the sharemarket's 11 sectors opened higher, led by real estate. The All Ordinaries index rose 0.3 per cent.
Overnight, President Donald Trump said he would push for lower interest rates in the US to stimulate domestic growth and spoke again of punitive tariffs - but declined to set a date for imposing China's. The S&P 500 index closed 0.5 per cent higher at an all-time high of 6118.71 following his remarks.
Trump also urged OPEC to "bring down the cost of oil", saying this would drive down inflation and interest rates. Oil prices fell following his remarks. Brent slipped 0.7 per cent to $US78.29.
"If one ever needed confirmation that financial markets price things primarily based on beliefs about the future, this week gave it," says Westpac chief economist Luci Ellis.
Risk-on sentiment, boosted by Trump's remarks, lifted the ASX on Friday. Interest rate-sensitive real estate stocks led the index higher, buoyed by Goodman Group, which jumped 2 per cent. Big banks opened higher, with Commonwealth Bank rising 0.7 per cent, and Westpac, NAB and ANZ posting more modest gains. And retail giant Wesfarmers leapt 3 per cent.
Oil producers tumbled, tracking falling crude prices overnight. Woodside dropped by 0.8 per cent, Santos by 0.6 per cent and Beach Energy by 1.6 per cent.
AMP was the ASX 200's biggest gainer in early trading with a 3.3 per cent rise. Coronado Global Resources posted the largest loss, falling 4.9 per cent.
Stocks on the move
US regulators have fast-tracked the approval process for a drug developed by Clarity Pharmaceuticals to detect biochemical recurrences of prostate cancer. The stock rocketed 6.4 per cent in early trading.
Kogan.com shares fell 13.2 per cent despite the online retailer posting revenue growth of 9.9 per cent in the first half of the 2025 financial year.
4DMedical jumped 6.2 per cent after the company struck a deal with Queensland-based Qscan Radiology Clinics to supply proprietary pulmonary function and pulmonary structure products.
Synlait Milk shares rocketed 19.7 per cent after the dairy processor boosted its H2 guidance and said the company would "return to profitability" this year.
And invoice financing business Earlypay jumped 5.1 per cent after Street Talk reported the stock is ready for another spin on the auction block.

Sumber : AFR

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