From Stockhead: 2024-05-10 02:33:12

ASX closed higher on Friday with energy stocks leading the charge. Oil prices surged amidst escalating conflict in the Middle East. US plans to impose new tariffs on China, targeting electric vehicles, batteries, and solar cells. Aussie shares ended the week up +1.7%, boosted by strong US jobless claims data hinting at a possible Fed rate cut. China mulls tightening regulations on booming lithium battery industry, seeking public input on draft regulations. Energy sector led ASX gains, with Beach Energy, Santos, and Woodside Energy posting gains.(Source: MarketIndex)

US to impose new tariffs on China, focusing on electric vehicles, batteries, and solar cells. Asian shares mostly advanced, while Chinese shares slipped on the news. Softbank Vision Fund reducing its public stock holdings, shifting focus to strategic bets. US consumer sentiment data and Fed Reserve talks expected tonight. ASX small caps like Macro Metals, TMK Energy, and State Gas showed positive momentum.(Source: MarketIndex)

ASX small cap leaders included Macro Metals, Everest Metals, and Civmec, all reporting positive results and gains. Companies like IPB Petroleum, St Barbara, and De Grey Mining also shared positive news. ASX small cap laggards included Sportshero, Conico, and Red Mount Min Ltd, posting losses.(Source: MarketIndex)



Read more at Stockhead: Closing Bell: Energy surge elevates ASX; China stocks drop as US talks tariffs