Energy stocks, BHP, Rio buoy ASX; Tower jumps 6pc
Wednesday, February 05, 2025       06:59 WIB

Australian shares opened higher, tracking gains on Wall Street following China's restrained response to new US tariffs.
The S&P/ASX 200 rose 0.7 per cent, or 55 points, to 8429 at the market open, paring some losses from the prior two sessions, as energy and mining rallied. The All Ordinaries index gained 0.7 per cent. Ten of the index's 11 sectors opened higher.
US President Donald Trump's 10 per cent tariff on all imports from China came into effect on Tuesday, sending Australian shares plummeting in late trade. That was quickly overtaken by Beijing retaliating with tariffs on US goods: 15 per cent on coal and liquefied natural gas, plus 10 per cent on oil and agricultural equipment.
Energy stocks led the ASX higher as traders digested the relatively minor impact of China's retaliation and hopes were buoyed for a trade deal between the two nations. Woodside jumped 1.5 per cent and Santos 1.4 per cent to track higher oil prices, with Brent crude rising 0.3 per cent to $US76.20 a barrel.
Miners also rose: BHP by 1.4 per cent, Fortescue by 2.6 per cent and Rio Tinto by 1.2 per cent. Champion Iron posted the ASX 200's largest gain, jumping 6.8 per cent. Lynas Rare Earths followed, leaping 5.1 per cent.
Stocks on the move
In corporate news, Amcor jumped 3.2 per cent after earnings met expectations in the December quarter and the company reaffirmed its guidance for the 2025 financial year.
Centuria Office REIT lifted 1.3 per cent after the company reaffirmed its earnings guidance for the 2025 financial year, despite a marked fall in earnings.
Red Hawk lifted 0.8 per cent after the company secured a higher bid price from Fortescue at $1.20 per share. Fortescue now owns more than 75 per cent of shares in the iron ore miner.
Tower rallied 6.4 per cent after the insurer upgraded its underlying net profit after tax guidance.

Sumber : AFR