ASX 200 Today: Market Rally Nears Record Highs Amid Easing Global Tensions

The Australian share market is experiencing a notable upswing, with the ASX 200 index closing at 8,555.5 on June 24, 2025, marking a 0.95% increase and reaching a 12-day high. This surge brings the index within 0.4% of its all-time peak, reflecting renewed investor confidence amid easing geopolitical tensions . The recent rally is largely attributed to the announcement of a ceasefire between Iran and Israel, which has alleviated concerns over potential disruptions in global markets. This development has led to a significant drop in oil prices, with Brent crude falling by 8.8% to US$70.33 per barrel, the lowest since mid-June. The decline in oil prices suggests that traders had previously overestimated the risk of supply interruptions in the Strait of Hormuz . In the domestic market, sectors such as Materials, Financials, and Technology have led the gains. Commonwealth Bank shares rose by 2.0% to a record $188.13, while Pilbara Minerals saw a 6.6% increase, buoyed by a rally in Chinese...