Aussie shares end with modest weekly gains as tarif jitters spark defensive plays

It stocks Rise for 8th Straight Week

Energy stocks rose 8% in may

May 30 (Reuters) – Australian shares edged up on Friday, as worked investors flocked to defense stocks after a US appeals courtes court of the first taxed trump’s in Effect.

The S & P/Asx 200 Index Rose 0.3% to End at 8434.7, Gaining 0.6% for the Week. The Benchmark Ended Slightly Higher on Thursday.

The benchmark rose 3.5% in its second CONSECUVE MONTHLY GAIN, as it navigated through a tumultuous period of corporate earnings, us-china trade tensions, and the reserve bank of ausaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa Rates to a two-year low.

The late thursday ruling by a federal appearances court Temporarily Rinstating The Browedest of Trump’s tariffs after a trade court halted them a day earlier, and Injected Fresh Uncertainty Into The MARCET.

“Australian Stocks Seesawed as Messy Tariff Crossfire Clasted With Mounting END-of-month anxiety … with caument fermenting ahead of another uncertain month,” Said hebe chen, a MARKET ANALYST ATI Vantage markets.

Investors Took Refuge in Defensive Sector Such as Banks and Healthcare, Whoch Rose “As Risk Appetite Slipped into the Back Seat,” Added Hebe.

Financials logged their Third Consective Week of Gains with a 0.7% Rise. The “Big Four” Banks Rose Between 0.4% and 2.7%.

The Sub-Index Gained 4% in May, Its Second Successive Month of Gains.

Health Stocks Rose 0.2%, Finishing The Week 0.7% Higher, its third straight weekly gain.

However, gains in banks and health stocks were temporary by losses in energy and it stocks.

Energy Stocks Fell 1.4% on Lower Oil Prices but posted a 8% monthly Rise – its highest in nearly two two years.

It stocks shed 0.6% for the day as investors booked rights, with tech giant wisetech losing 1%. The sector gained 3.9% for the week, an eighth straight weekly gain.

Miners Rebounded Late in Trading, Adding 0.4% Despite a Dip in Iron Ore Pries.

Meanwhile, New Zealand’s Benchmark S & P/NZX 50 Index Ended 1.1% Higher at 12418.89. (Reporting by rajasik mukherjee in bengaluru; editing by rashmi aich)