FX.co ★ Australian Shares Climb to 7-Week High

The S&P/ASX 200 Index rose by 1% on Monday, surpassing the 8,040 mark and achieving a seven-week high. This uptick in the index was driven by improved investor sentiment due to alleviating global trade tensions. Additionally, the possibility of further stimulus measures from China to counteract the effects of US tariffs has brightened the economic outlook for Australia’s principal trading partner. Domestically, there is increasing anticipation of the Reserve Bank of Australia implementing another 25-basis-point interest rate reduction in May, in response to rising economic uncertainties and amplified concerns over the global trade environment. The financial sector led the market rally, with notable increases seen in Commonwealth Bank (+0.7%), Macquarie Group (+1.6%), National Australia Bank (+2.4%), ANZ Group (+1.9%), and Westpac Banking (+1.5%). Significant gains were also recorded by major companies such as CSL Ltd (+1.8%), Wesfarmers (+1.4%), and James Hardie Industries (+2.1%).