5 ASX 200 Stocks Starting the Year on 52-Week Highs

As the new year kicks off, several ASX 200 stocks are soaring to new heights, reaching 52-week highs in the early hours of trading on Tuesday.

Market Overview

At the time of writing, the S&P/ASX 200 Index (ASX: XJO) shows a 0.47% increase, reaching 7,626.7 points.

1. Commonwealth Bank of Australia (ASX: CBA)

The Commonwealth Bank's share price stands at AU$113.15, marking a 1.2% surge for the day and setting a new 52-week high. The momentum is attributed to the Santa Rally, anticipating a soft landing for the Australian and U.S. economies in 2024.

2. Wesfarmers Ltd (ASX: WES)

Wesfarmers shares are priced at AU$57.53, up 0.86%, hitting a new 52-week high. The conglomerate emphasizes its strong value proposition, particularly in flagship businesses like Bunnings and Kmart, positioning itself well amid today's cost-of-living crisis.

3. REA Group Ltd (ASX: REA)

REA Group's share price reached AU$184.44, up 1.82%, reaching a new 52-week high of AU$186. The property web listings provider benefits from robust gains in the Australian property market in 2023, reporting a 12% increase in revenue in 1Q FY24.

4. Cochlear Limited (ASX: COH)

Cochlear's share price hits AU$300.95, up 0.76%, setting a historic 52-week high of AU$303. The healthcare stock reports a 10% increase in underlying net profit in FY23 and anticipates significant growth in FY24.

5. JB Hi-Fi Limited (ASX: JBH)

JB Hi-Fi's share price reached AU$53.74, up 1.34%, reaching a new 52-week high of AU$53.76. Despite economic uncertainties, the retail titan had a robust performance in 2023, reflecting consumer resilience.

Investors are closely watching these ASX 200 stocks, anticipating sustained momentum and positive returns in the evolving market landscape.

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