ASX Likely to Open Higher on April 23 After Nasdaq Rally; Tech and Mining in Focus
The ASX 200 is expected to see a positive start on April 23, riding on a strong Nasdaq close. Tech and mining sectors may lead early gains in the Australian market.
Key Highlights:
ASX Likely to Open Higher on April 23 After Nasdaq Rally; Tech and Mining in Focus
The ASX 200 is projected to open positively on April 23, 2025, tracking a strong global tech rally as the Nasdaq Composite surged 429 points (+2.71%) overnight. The Australian benchmark index closed slightly lower on April 22, despite intraday recovery, and is now poised to follow the global risk-on sentiment.
Recap: ASX on April 22 Ends Flat Despite Early Dip
On April 22, the S&P/ASX 200 ended at 7,816.70, marginally down 2.40 points or 0.031% from the previous close. The session saw:
- 🕳️ A dip to a low of 7,745.10 shortly after open
- 📈 Quick rebound toward the 7,820 level in the afternoon
- 🔋 Energy and banks showed resilience, while healthcare and tech remained mixed
This flat close reflected investor caution ahead of key global earnings and U.S. market direction.
Global Cues Boost Sentiment for ASX 200
Following the Nasdaq Composite’s 429-point rally, driven by:
- 🔼 Strong corporate earnings
- 🔽 Easing U.S. treasury yields
- 🔋 Big gains in tech majors like Microsoft, Nvidia, and Amazon
…Australian investors may return to risk assets with a renewed appetite, especially in tech, lithium, and gold miners.
ASX Forecast for April 23: Key Expectations
| Indicator | Prediction |
|---|---|
| Opening Trend | Positive gap-up likely |
| Intraday Bias | Bullish to rangebound |
| Support Levels | 7,760 / 7,745 |
| Resistance Zones | 7,850 / 7,880 |
| Likely Close | 7,850+ if tech and miners sustain momentum |
What to Watch Today
- 🛢️ Commodity prices, particularly iron ore and lithium
- 💻 Tech sector performance in early trade (Xero, Wisetech Global, Block Inc.)
- 💼 Quarterly earnings from domestic banks and resource firms
- 🧾 CPI data releases or macroeconomic updates impacting inflation outlook
How to Take Action
- 📈 Short-term traders may consider early momentum plays in lithium, gold, and tech stocks
- 📊 Investors should monitor valuation zones if the index nears all-time highs
- 📡 Market participants must track U.S. futures and Chinese commodity demand cues
Who Will Be Affected
- 🧠 Retail investors, especially those in growth and ETF portfolios
- 🌏 Export-focused sectors, as global demand sentiment rebounds
- 🛢️ Mining and energy firms, driven by commodity trends
- 🏛️ RBA watchers, gauging how rate decisions could respond to risk sentiment
ASX Eyes Stronger Opening After Global Rally Lifts Investor Mood
After a muted performance on April 22, the ASX is positioned for a stronger start today. The rally in the U.S. tech-heavy Nasdaq is likely to drive optimism, especially in growth-oriented sectors. However, as the index approaches previous resistance near 7,850–7,880, traders may exercise caution.
Eyes will be on whether tech, miners, and financials can sustain intraday strength and set a bullish tone for the rest of the week.
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