Following an interesting inauguration speech from second-time US President Donald Trump the ASX ended Tuesday (21 January) on a high note.
The S&P/ASX 200 closed the session 55 points, or 0.66%, higher at 8,402.4 points, setting a new 20-day high.
Over the last five days, the index has gained 2.08% and is currently 1.32% off of its 52-week high.
This was largely attributed by market watchers as due to Trump not immediately slapping tariffs on several countries, including China, as numerous reports had previously suggested he would.
Eight of the 11 sectors moved up today. The financial sector was the top gainer on the Australian bourse with a 1.15% rally. Materials climbed 0.75% and energy edged up 0.09%.
Of the S&P/ASX 200 companies, Liontown Resources’ (ASX:LTR) strong December 2024 quarter results kept it in top spot with a 11.9% jump to $0.71 by the closing bell.
Yancoal Australia (ASX:YAL) also held onto its gains, closing up 5.55% at $6.28.
Among the small caps, Alliance Nickel (ASX:AXN) rallied nearly 30% to $0.035 while copper and uranium explorer AuKing Mining (ASX:AKN) ended the session up 14.29% at $0.004.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Angela East at Mining.com.au
Images: ASX & iStock
