The S&P/ASX 200 Index showed minimal movement, closing at 8,539 on Thursday. Earlier gains were negated following the release of trade balance figures for April that fell short of expectations. This development has heightened concerns regarding the export sector’s susceptibility to tariff impacts, more so than previously anticipated. Australia’s trade surplus narrowed to AUD 5.41 billion, compared to expectations, and was down from March’s revised AUD 6.89 billion. The shrinkage was attributed to a 2.4% decrease in exports and a 1.1% increase in imports. On the global stage, trade relations captured attention, with US President Trump describing dealings with President Xi as “extremely hard,” despite prior indications of a potential dialogue between the two leaders this week. Meanwhile, China is considering a significant deal with Airbus, signaling a shift towards stronger ties with the EU. In the corporate sector, notable declines were recorded by CSL Limited (-1.3%), Macquarie Group (-0.4%), and Woodside Energy (-0.4%). Conversely, Lynas Rare Earths experienced an impressive 12.5% surge, reaching a two-year peak, after automakers cautioned that China’s export restrictions could disrupt production.
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