
It’s been a dynamic week in global markets, dominated by U.S. President Trump’s inauguration and his first-day executive orders. Most major equity indices finished in the green, buoyed by a tech-led rally in the U.S. and a strong week for Japanese and Australian markets. Here’s what moved the markets:
In Australia, the ASX 200 rose 1.2% for the week, supported by a strong performance in Technology (+3.5%) and a rebound in Materials and Energy stocks. Local markets benefited from Trump’s announcement of a major AI infrastructure joint venture, which drove gains in tech. The Australian dollar hit a five-week high, climbing to US63.14c, as Trump signaled a more conciliatory approach toward China after a “friendly” discussion with President Xi Jinping. However, profit-taking in bank stocks on Friday capped some of the week’s momentum.
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