ASX Edges Higher as Energy and Tech Lead Gains

Key Highlights:

• ASX 200 gains 0.16% as tech and energy stocks fuel modest rally
• Strickland Metals jumps 12.5%; AMA Group and Capstone Copper also advance
• EBR Systems, Meeka Metals, and Fineos among top laggards
• Global markets remain mixed; commodities steady amid global uncertainty
   

The ASX 200 inched higher on Tuesday, adding 13.1 points to close at 8,374.1, supported by strength in the energy and information technology sectors. Investor sentiment remained cautious, but optimism surrounding resource stocks and select technology names kept the index in positive territory.

Energy (+0.87%) and information technology (+0.79%) led the sector gains, buoyed by global energy price stability and renewed interest in tech-driven growth stories. Industrials (+0.35%) and materials (+0.33%) also saw modest advances, while utilities (-0.95%) and real estate (-0.13%) lagged, reflecting broader market caution.

Among the standout performers, Strickland Metals (ASX: STK) soared 12.5% to $0.135, extending its upward momentum on no specific news but driven by speculative buying interest in the junior explorer. AMA Group (ASX: AMA) followed with an 8.99% gain at $0.097, while Capstone Copper (ASX: CSC) rose 6.72% to $8.42, tracking gains in global copper prices. Other notable movers included Findi (ASX: FND) up 6.67%, Vulcan Energy (ASX: VUL) up 5.13%, and Magnetic Resources (ASX: MAU) up 5.09%.

On the flip side, EBR Systems (ASX: EBR) slumped 5.88% to $1.12, leading the day’s laggards after recent strong gains. Propel Funeral Partners (ASX: PFP) fell 5.26%, while Meeka Metals (ASX: MEK) slipped 5%. Fineos (ASX: FCL), down 4.25%, and Brightstar Resources (ASX: BTR), down 3.82%, rounded out the list of top decliners.

In the broader market, the All Ordinaries added 0.17% to 8,603.5, while the Small Ordinaries gained 0.32%. The ASX All Technology Index outperformed with a 0.53% lift, underscoring continued enthusiasm for growth stocks.

Commodities traded mixed, with Brent crude edging higher by 0.05% to $64.81 per barrel, while gold retreated 0.70% to $3,342.20 per ounce. Copper added 0.22% to $4.85 per pound.

Global markets showed a subdued tone. The Dow Jones closed down 0.61%, the Nasdaq slipped 1%, and the S&P 500 shed 0.67%. In Asia, the Nikkei 225 surged 1% to 37,531.53, while the Hang Seng dropped 1.35%.

The ASX Volatility Index (VIX) remained at 11.4, suggesting a low-volatility environment in the short term.

Looking ahead, investors will monitor upcoming dividends from heavyweights like Macquarie Group (ASX: MQG) and Bank of Queensland (ASX: BOQ), along with IPOs from Robex Resources (ASX: RXR) and Greatland Resources (ASX: GGP) in June.

With earnings season winding down and macroeconomic uncertainties lingering, the market may continue its measured pace—though standout stock-specific stories, like Strickland’s rally, remain in focus.