24.10.202500:54:35UTC+00Aussie Stocks Flat, Poised for Weekly Gains

The S&P/ASX 200 index remained relatively stable at approximately 9,035 as of Friday, marking a pause for the second consecutive day. Investors are focusing on the upcoming quarterly inflation data, which is crucial for anticipating any changes in the central bank's policy direction. Additionally, market participants considered preliminary PMI statistics, indicating that Australia's manufacturing sector contracted for the first time this year, while growth in the services sector picked up in October. Despite this pause, the index is on track for its second consecutive weekly gain, buoyed by encouraging developments in global trade. Notably, the U.S. has confirmed an impending meeting later this month between President Trump and Chinese leader Xi Jinping, along with another series of high-level trade negotiations scheduled for the ASEAN Summit this weekend. On the corporate front, mining and energy stocks were the top performers, posting gains of 0.2% and 0.6%, respectively, driven by stronger commodity prices. Conversely, the financial sector faced losses, with three of the “Big Four” banks experiencing declines of up to 0.4%.