Market update: 10 June 2025
The Australian share market rose modestly this week, with the ASX 200 finishing up 1.0%. While eight of the eleven major sectors posted gains, the moves were relatively small. Australia’s March quarter GDP growth came in at just 0.2%, falling short of expectations and reinforcing signs of a slowing economy. Household spending in April rose slightly by 0.1%, but overall, consumer activity has been flat in recent months — reflecting the ongoing impact of cost-of-living pressures and high interest rates.
In the US, markets moved higher across the board. The Nasdaq jumped 2.2%, while the S&P 500 and Dow Jones added 1.5% and 1.2% respectively. However, concerns over inflation are back in the spotlight as Donald Trump’s proposed 50% tariff hikes on steel and aluminium add to the cost of goods. Rising government spending on defence, climate and aged care is also putting pressure on inflation. Despite this, equity markets remain active — over US$17.5 billion was raised globally in just the first week of June, after a strong May.
European markets also had a solid week. The DAX hit a record high, and the Euro Stoxx 50, Euro Stoxx 600, and FTSE all ended in the green. A strong rebound in May, plus a perception of greater economic stability, is drawing more US investors into Europe. Meanwhile, in Greater China, both the Hang Seng and Shanghai Composite gained, thanks to a tech stock rally and strong economic data. US-China trade tensions continued, but a 90-minute call between Trump and Xi Jinping showed signs of headway in easing conflict.
Over in Japan, the Nikkei slipped 0.6%. Weak economic indicators — including lower household spending and falling real wages — have raised questions about the pace of recovery. Still, the Bank of Japan says the economy is improving slowly however remains open to raising interest rates if economic conditions are realised.
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