ASX property shares and real estate investment trusts (REITs) led the ASX 200 market sectors last week, with a 3.09% gain over the four trading days leading up to the Easter long weekend.
The S&P/ASX 200 Index (ASX: XJO) rose 1.73% over the week to finish at 7,896.9 points on Thursday.
Most of the week's gains occurred on Thursday when the ASX 200 reset its previous high that was hit on 8 March. The benchmark index went to an intraday peak of 7,901.2 points.
This followed a strong night on Wall Street, with the S&P 500 rising 0.9% to reset its own record close.
Share prices are rising because investors are feeling pretty confident that inflation is on a sustained downward trajectory, raising hopes of interest rate cuts soon.
Many economists in Australia are tipping a rate cut late in the second half of the year.
Investors were also buoyed by a better-than-expected February earnings season, with profits weaker overall but dividends still plentiful.
And the market remains excited about the potential of artificial intelligence and other major investment thematics such as uranium and renewable energy.
Ten of the 11 market sectors finished the week in the green.
Let's recap.
Property shares led the ASX sectors last week
A bunch of ASX 200 shares hit new annual peaks on Thursday, including the four biggest property shares.
Goodman Group (ASX: GMG) shares rose by 5.51% over the four days to finish the week at $33.81 per share. The industrial property specialist hit a new 52-week high of $34.07 on Thursday.
Scentre Group (ASX: SCG) shares also hit a new 52-week high on Thursday at $3.42. The stock closed at $3.39, up 0.59% over the four trading days.
Stockland Corporation Ltd (ASX: SGP) shares gained 1.46% to finish at $4.85 on Thursday. It also reached a new 52-week high of $4.90 on Thursday.
Vicinity Centres (ASX: VCX) shares rose 1.66% to close at $2.13 on Thursday after hitting an intraday 52-week high of $2.15.
ASX 200 market sector snapshot
Here's how the 11 market sectors stacked up last week, according to CommSec data.
Over the four trading days:
| S&P/ASX 200 market sector | Change last week |
| A-REIT (ASX: XPJ) | 3.09% |
| Energy (ASX: XEJ) | 2.84% |
| Healthcare (ASX: XHJ) | 2.83% |
| Consumer Staples (ASX: XSJ) | 2.66% |
| Industrials (ASX: XNJ) | 2.14% |
| Materials (ASX: XMJ) | 2.05% |
| Communication (ASX: XTJ) | 1.23% |
| Consumer Discretionary (ASX: XDJ) | 1.15% |
| Utilities (ASX: XUJ) | 1.13% |
| Financials (ASX: XFJ) | 0.95% |
| Information Technology (ASX: XIJ) | (0.7%) |
