ASX 200 ends losing streak; Megaport soars 40pc on upgrade, Westpac backs RBA pause
Megaport rockets on guidance upgrade. Bubs Australia launches China review. Bank of Japan to review monetary policy. Mirvac cuts outlook. Woodside defends climate policy.
Welcome to the Trading Day blog for Friday, April 28. The Australian sharemarket ended a five-day losing streak on the back of gains gains by the major banks and miners.
The S&P/ASX 200 index closed up 0.2 per cent to 7309.20. For the week, the benchmark lost 0.2 per cent.
Wall Street is looking to consolidate strong gains on Thursday with futures tied to the S&P 500, Nasdaq and Dow Jones most unchanged ahead of this evening's session.
The dollar was buying near US66.10c at the close.
More Coverage
Chinese AI start-up’s trillion dollar hit of tech’s ‘Magnificent Seven’
The arrival of cut-price Chinese rival to ChatGPT has seen more than a trillion dollars wiped from the value of major tech companies.
ASX ends flat; US tech stocks smashed
Seesaw day on the ASX following heavy falls across US tech stocks. Investors spooked following emergence of low-cost Chinese generative AI model DeepSeek. Goodman, NEXTDC, DigiCo, uranium stocks, Nuix fall hard.