The ASX is trading higher on Monday amidst easing tensions between Israel and Iran, with the S&P/ASX 200 rising by 1.4% to 7671 points at the open, partly recovering from last week's 2.8% loss.
In addition, China has maintained its one- and five-year loan rates unchanged for the second consecutive meeting amid its post-pandemic recovery. The decision, influenced by robust first-quarter economic indicators and a focus on currency stability, reflects the People’s Bank of China's cautious approach to monetary policy adjustments.
At noon, the S&P/ASX 200 is 0.94 per cent higher at 7,638.90.
The SPI futures are pointing to a rise of 68 points.
Best and worst performers
The best-performing sector is Materials, up 1.42 per cent. The worst-performing sector is Energy, down 0.96 per cent.
The best-performing large cap is South32 (ASX:S32), trading 5.96 per cent higher at $3.38. It is followed by shares in IGO (ASX:IGO) and ALS (ASX:ALQ).
The worst-performing large cap is Mercury NZ (ASX:MCY), trading 5.62 per cent lower at $5.88. It is followed by shares in Meridian Energy (ASX:MEZ) and GQG Partners (ASX:GQG).
Commodities and the dollar
Gold is trading at US$1782.70 an ounce.
One Australian dollar is buying 64.51 US cents.
