Global investors made a sharp pivot in April, adding $58.3 billion into emerging markets after a $66.2 billion outflow in March. The turnaround was largely debt-led, fueled by easing geopolitical tensions and steadier market conditions that revived risk appetite, though investors still worry about energy costs and whether the rebound can last.
Australian shares fell as banks weighed on sentiment and biotech leader CSL plunged 16% after cutting its full-year 2026 outlook. The company also flagged a $5 billion impairment, dragging the healthcare index 6.5% to an over eight-year low. Broader risk appetite was further dented by rising US-Iran tensions influencing global markets.
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Bitcoin surged past $80,000 as institutional buying, tightening supply, and fading oil-linked inflation hedges boosted demand. Geopolitical de-escalation also improved market mood, pushing a broad risk-on move. While major altcoins saw volatility, the rally was further accelerated by roughly $270 million in short liquidations.
Australian shares fell to their lowest level in nearly four weeks as investors stayed cautious. Stalled U.S. Iran peace talks added geopolitical uncertainty, while investors also looked ahead to upcoming domestic inflation data, keeping risk appetite muted. The combination pressured trading and reflected a market waiting for clearer signals on both policy and prices.
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