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Australia’s ASX hit a record high on strong gold prices and major stock surges, despite economic slowdown.
The ASX hit a record high near 9,100 points, boosted by soaring gold prices—reaching $6,700 an ounce and becoming Australia’s second-largest export—despite slowing GDP growth and a 4.5% unemployment rate.
Entertainment Rewards (EAT) surged 950% after its major shareholder, Suzerain Investments, made a 1,000% premium takeover bid of 2.2c per share, valuing the company at $28.8 million and paving the way for privatization.
Litchfield Minerals (LMS) jumped 527% following high-grade copper-zinc mineralization at its Oonagalabi project, including a 104-meter intercept.
Other standout performers included a rubidium explorer with strong extraction results and a biotech firm advancing brain imaging technology through a strategic acquisition.
Global markets remain under pressure from U.S. banking stress and trade tensions.
El ASX de Australia alcanzó un máximo histórico debido a los fuertes precios del oro y los importantes aumentos en las acciones, a pesar de la desaceleración económica.