---
title: "ASX Midday Sector Update: Real Estate Stocks Soar, Financials Struggle"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/234144888.md"
description: "Real estate stocks rose 1.94% at midday Wednesday, while the materials sector fell 1.42%. The S&P 500 and Nasdaq Composite indices closed higher amid volatile trading ahead of US trade tariffs. Lendlease Group completed the sale of its UK construction business to Atlas Holdings, marking its exit from international construction. Meanwhile, Mineral Resources faces a class action lawsuit regarding payments to offshore entities linked to its managing director, Chris Ellison."
datetime: "2025-04-02T02:39:15.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/234144888.md)
  - [en](https://longbridge.com/en/news/234144888.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/234144888.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/234144888.md) | [繁體中文](https://longbridge.com/zh-HK/news/234144888.md)


# ASX Midday Sector Update: Real Estate Stocks Soar, Financials Struggle

Real estate stocks jumped 1.94% at midday Wednesday. The S&P 500 and the Nasdaq Composite indices closed higher after a volatile day of trading, ahead of trade tariffs by the US.

Lendlease Group completed the sale of its UK construction business to Atlas Holdings after satisfying all conditions precedent. The sale marks Lendlease's exit from international construction, following the divestment of its operations in the US and Asia.

On the flip side, the materials sector struggled, falling 1.42%. Gold prices continued their upward trend on safe-haven demand.

Mineral Resources said that, along with managing director and founder Chris Ellison, it has been served with a class action proceeding filed in the Supreme Court of Victoria on Monday. The lawsuit concerns payments by the company to offshore entities linked to Ellison, addressed by the company since October 2024, it said.

### Related Stocks

- [Lendlease Group (LLC.AU)](https://longbridge.com/en/quote/LLC.AU.md)

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