The S&P/ASX 200 index slightly increased by 0.3% to 8,647.5 points, with titanium and critical minerals producer IperionX (ASX:IPX) joining the top-performing stocks.
IperionX shares rose 5.71% to $5.18 per share, while Avira Resources (ASX:AVW) jumped 11.11% to $0.010 per unit in the first hour of trading on the Australian Securities Exchange.
Other notable gains include Besra Gold (ASX:BEZ), up 10% to $0.11 cents per share, and Riversgold (ASX:RGL) increased 8.33% to $0.013 per share.
“This index is virtually unchanged over the last five days and year-to-date,” the ASX website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” in 2025 despite “concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts note that major mineral producers and companies in other sectors have seen international investors withdraw funds as a safety precaution due to uncertainty across the ASX index.
“Gold came under pressure, silver came under pressure, bitcoin came under pressure, [and] shares came under pressure,” Moomoo market strategist Michael McCarthy tells the Australian Associated Press.
“In other words, it was a ‘sell everything’ night [on 20 May 2026], and that tells us that this is not about risk appetites — this is about concern about a deteriorating economic outlook.”
Write to Richard Szabo at Mining.com.au
Images: Australian Securities Exchange via Facebook
