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FX.co ★ Australian Shares Trade Flat

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typeContent_19130:::2025-06-02T01:01:18

Australian Shares Trade Flat

The S&P/ASX 200 Index maintained its position at 8,434 on Monday, following advancements from the prior week, as investors evaluated the latest Purchasing Managers' Index (PMI) figures and kept an eye on global trade developments. Earlier in the day, data revealed that Australia's manufacturing sector saw a decline in May for the second consecutive month, hitting its lowest point since February. This decline suggests a possible deceleration in industrial activity. Adding to economic concerns, last week's reports indicated a surprising drop in retail sales in April, underscoring heightened consumer caution. Meanwhile, investor sentiment continued to be influenced by US-China trade relations, with President Donald Trump's willingness to engage in discussions with Chinese President Xi Jinping offering a glimmer of hope for a potential reduction in tariff tensions. On the corporate front, banking stocks performed well, with standout performances from Westpac Banking Corporation, which surged 2.7%, National Australia Bank, which rose 1.3%, and Commonwealth Bank of Australia, which added 0.9%.

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