Market Wrap / L-day looms

The S&P/ ASX 200 edged higher during Wednesday's session, despite uncertainty ahead of so-called "Liberation Day".The S&P/ASX 200 added 0.12% to close at 7934.50 points. 

The property sector rallied after February building approvals fell just 0.3%, way less than the 1.3% drop which was anticipated. This prompted a relief rally in the property sector, which lifted 1.7% today.

All big four banks also ended the session in the green, with CBA leading the way, up 1%.

Meanwhile, the energy sector fell 1.4% after data showed lower oil output in March, despite a majority of OPEC+ members supporting increased production to lower prices. 

The miners suffered from restrained iron-ore pricings, with BHP down 1.5%. Mineral Resources was also in the red as it said it will "strongly defend" a class action proceeding against itself and MD Chris Ellison. 

ASX gains were also hindered by negative anticipation regarding Trump’s tariffs. Treasury Wine Estates dropped 5.4%.

Investors will indeed turn their focus to President Trump’s tariffs address, expected early morning tomorrow.