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Australia’s ASX 200 Index rose 0.20% on Thursday morning, hitting a record high of 8,552.6 before easing back. Ukraine War-related news and expectations for a February RBA rate cut drove demand for Aussie stocks.
Mining stocks led the gains, with BHP Group Ltd. (BHP) and Rio Tinto Ltd. (RIO) rising 2.34% and 1.33%, respectively. Iron ore spot prices increased 1.17% on February 12, driving demand for mining stocks.
Outlook: Risks and Opportunities Ahead
Looking forward, US-China trade developments and the AI market trends remain the key drivers. AI stocks could maintain momentum as partnerships and innovation drive sentiment. However, manufacturing and mining stocks remain exposed to tariff developments.
Hopes for US-China trade talks may lift Australian, Hong Kong, and Mainland Chinese markets. The Hang Seng Index could further benefit from the AI-driven frenzy. Nevertheless, Asian markets remain exposed to further tariff shocks, highlighting the need for caution.
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