Australia’s ASX 200 Index rose 0.45% on Friday morning, briefly striking a record high of 8,615.2 before retreating. US tariff developments drove demand for mining stocks, while gold-related stocks contributed to the gains.
Mining giants BHP Group Ltd. (BHP) and Rio Tinto Ltd. (RIO) gained 0.59% and 1.15%, respectively, as iron ore spot prices surged 1.88%. Northern Star Resources Ltd. (NST) advanced by 1.09%, benefiting from an overnight 0.83% increase in gold prices.
Outlook: Risks and Opportunities Ahead
Looking ahead, US tariff policy shifts and the AI sector’s growth will likely continue to drive markets. AI stocks could extend their gains as strategic partnerships and innovation boost optimism. That said, US tariff uncertainty may expose manufacturing and mining stocks to heightened volatility.
Meanwhile, hopes for US-China trade negotiations may support Australian, Hong Kong, and Mainland Chinese markets. The Hang Seng Index could further benefit from the AI-driven euphoria, while tariff risks underscore the need for caution.
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