ASX Preview: Australian Shares to Open Higher on Potential US-China Tariff Talks; Chemist Warehouse Stakeholders Exit After Merger With Sigma Healthcare
Australian shares are set to open higher as President Trump indicates willingness to discuss a tariff truce with China. The S&P 500, Nasdaq, and Dow fell 0.3% overnight. Investors await the ANZ-Indeed Job Ads release. In corporate news, Sigma Healthcare's merger with Chemist Warehouse led to stakeholders selling AU$2.8 billion in holdings. Coles Group will cut prices on over 300 winter products for 12 weeks starting Wednesday. Australia's benchmark index closed at 8,434.70 on Friday.
Australian shares are expected to open with a mild uptick on Monday as US President Donald Trump showed openness to discussions with Chinese President Xi Jinping about a potential tariff truce.
Trump expressed confidence that speaking with the Chinese president can ease the ongoing trade issues between the countries.
Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average each fell 0.3%.
In macroeconomy, investors are eyeing the release of the ANZ-Indeed Job Ads.
In corporate news, Sigma Healthcare's merger with Chemist Warehouse prompted the pharmacy retailer's stakeholders to sell AU$2.8 billion of their holdings, according to a May 30 report by the Australian Financial Review, citing research and advisory firm Ownership Matters.
Coles Group will reduce prices on over 300 winter products, including meat, dairy, wines, pantry items, and snacks, effective Wednesday, for the next 12 weeks, according to a Monday statement by the company.
Australia's benchmark index was little changed on Friday to close at 8,434.70.
