ASX Edges Higher as Tech and Energy Sectors Drive Gains

Key Highlights:

• S&P/ASX 200 up 0.12% to 8,407.1 points.
• Energy, Tech, and Telecom lead sector gains.
• Predictive Discovery surges 7.86%; Energy Resources plunges 20%.
  
   

The Australian sharemarket showed resilience on Thursday, May 29, 2025, with the S&P/ASX 200 inching up 0.12% to 8,407.1 points. A bullish tone from global markets, alongside upbeat sector-specific catalysts, helped offset cautious sentiment around inflation data and global growth forecasts.

Sector Snapshot: Tech and Energy in the Driver’s Seat

Energy stocks led the charge, gaining 1.49% amid stronger oil prices—Brent crude up 1.30%—buoyed by stable demand expectations and OPEC+ production targets. The Information Technology sector added 0.75%, mirroring overnight gains on the NASDAQ and driven by a rebound in key tech names. Telcos also saw a 0.91% lift, while Industrials and Utilities posted modest gains of 0.51% and 0.40%, respectively.

Meanwhile, Materials (-0.45%) and Real Estate (-0.09%) weighed on the broader market, as profit-taking and softer commodity prices, notably copper down 1.18%, dented sentiment. Gold also eased, with the All Ordinaries Gold index slipping 0.16%.

Top Movers: Gainers and Laggards

Predictive Discovery Ltd (ASX: PDI) surged 7.86% to $0.3775, extending its recent momentum on exploration optimism in West Africa. Capstone Copper (ASX: CSC) climbed 6.27% to $8.82, benefiting from a rebound in base metal prices.

Other notable gainers included Findi Ltd (ASX: FND) up 5.84%, Symal Group (ASX: SYL) rising 5.57%, and Clarity Pharmaceuticals (ASX: CU6) gaining 5.12%, after positive sentiment around its radiopharmaceutical pipeline.

On the flip side, Energy Resources of Australia (ASX: ERA) plunged 20% to $0.002, following concerns around project timelines. Dateline Resources (ASX: DTR) fell 12.77%, while Lotus Resources (ASX: LOT) dropped 6.10%.

Investor Sentiment: Calm Before Key Data

The ASX Volatility Index (VIX) held steady at 10.6, reflecting low market anxiety. However, investors remain watchful ahead of domestic inflation numbers and global economic signals. With Energy and Tech buoying the market, all eyes are on the next catalysts to determine if this rally can sustain.