Gotrade News - The Australian stock market surged by 1% as the ASX gained strength following U.S. President Donald Trump’s comments on the Iran conflict. This situation signals a potential end to the Middle East conflict, although the Strait of Hormuz remains partially blocked.
Key Takeaways:
- ASX rises 1% amid potential end to the Iran conflict.
- Trump outlines strategy to conclude the conflict despite the closed Strait of Hormuz.
- Technology and mining stocks rally in the Australian market.
The ASX's rally was driven by Trump’s statement contemplating an end to military operations in Iran. This news reversed the S&P/ASX 200 index from a 0.5% decline to an increase of up to 1%, reaching 8544.60. However, on a monthly basis, the index still faces the largest drop since June 2022.
This positive movement also influenced Brent crude prices, which fell by 1.1% to $US106.19 per barrel. This development could be a boost for the energy sector, which is striving to close the month with a 20% increase compared to last month.
VanEck comments highlight the evident volatility in the market this month. Despite technology stocks declining earlier on Monday, there is now a significant rebound with Xero leading the gain at 8.4%.
Major Australian banks also drew substantial support. Westpac recorded a 2.1% rise while Commonwealth Bank and ANZ each rose by 1.1%.
In the gold sector, prices increased by 1.4% as The Federal Reserve maintained long-term inflation expectations stable amid recent conflict escalation.
On the other hand, the energy sector saw a decline with Woodside Energy and Santos down by 0.6% and 1.2%, respectively. News broadcasts also highlight the strong debut of Koala on the ASX, with shares jumping 12% above the IPO price.
Reference:
- Bloomberg, Stock Futures, Bonds Advance on Trump War Report: Markets Wrap. Accessed on March 31, 2026
- CNBC, cnbc daily open trump is doubling down on rhetoric to end the iran war. Accessed on March 31, 2026
- Australia Financial Review, Central Iran rocked by massive explosions; Trump may end war without reopening Hormuz. Accessed on March 31, 2026
Featured Image: GPT Image 1.5
