Australian shares eye record as banks and miners rally
Australia's share market is within striking distance of its highest close after its best day in two weeks, as investors look past US-China trade jitters.
Australia's share market is within striking distance of its highest close after its best day in two weeks, as investors look past US-China trade jitters.
A lift in expectations of an interest rate cut have provided a springboard to send Australian equities to new highs, after weeks of consolidation.
Only Australia's raw materials sector has managed to close higher as the local bourse faded in a sluggish trading session.
A weak session on Wall Street and slumping commodity prices have provided a gloomy backdrop for the last session of the week as local equities edge lower.
A slump in Australian miners has dragged the bourse lower heading into the weekend, as investors took profits after a run up in commodity prices.
Gold and Bitcoin have reset their record highs and Australia's share market could do the same this week as investors position for a bullish fourth quarter.
Japan's Nikkei index has soared past the 47,000 level for the first time and gold climbed to a record peak above $US3,900.
Strong commodity prices have counterbalanced other losses in a sluggish start to the week, which is set to be a quiet one for macroeconomic events and data.
Australian shares have more than wiped this week's gains ahead of a key US interest rate decision, with most local sectors trading lower.
September continues to be a challenging month for Australia's share market which is heading towards a third straight week of losses.
Banks and the health care sector have helped Australian shares claw back some of the week's losses as investors look for catalysts to energise markets.
The ASX has finished a record-breaking trading session at an all-time high as investors turned the bourse green on the busiest company reporting day.
Australia's top 500 publicly traded companies are now worth more than $2.9 trillion, as major benchmark indexes closed at their highest ever levels.
Discretionary, banking and utilities stocks have given the local share market a boost as the central bank resumes its easing cycle.
Discretionary and bank stocks have helped buoyed the local share market ahead of an expected interest rate cut from Australia's central bank.
Investors have shrugged off the previous week's gloom to send Australian equities to their best-ever close as rate-sensitive stocks led the bourse higher.
Continued strength in the mining sector and hopes of incoming interest rate relief have helped lift the Australian stock market to fresh highs.
The Australian share market has crossed 8700 points for the first time in its biggest rally since April, while posting its best weekly performance for 2025.
The ASX200 has climbed 0.7 per cent to finish above 8,600 for the first time, and was also within 10 points of its all-time intraday high.
Israel and Iran's escalating conflict has lifted oil prices and energy stocks, but the resulting hike in inflation expectations is weighing on other sectors.
Banks and energy stocks have helped lift the local bourse to record highs, but continued growth will hinge on the outcome of US-China trade talks.
A trade truce between the world's two largest economies helped send Australian shares to new heights, but an afternoon sell-off shows investors remain wary.
Escalating conflict between Israel and Iran has sent markets lower, prompting fears of a broader Middle East conflict and heightened inflation risks.
The Australian share market is at three-month highs after a positive session, shrugging off global trade tensions and ongoing geopolitical risks.
Australia's banks have helped push the local stock market higher as the nation's most valuable company notches a share price record.
Australian shares have pushed higher each session this week as easing trade tensions and hopes of incoming interest rate cuts buoyed markets.
The Reserve Bank is widely expected to deliver a second interest rate cut as global trade uncertainty threatens to rain on Australia's economy.
A potential US-Iran nuclear deal has caused oil prices to tumble, while global share markets caught their breath as trade optimism died down.
Most analysts are asking not if, but by how much, the Reserve Bank will cut interest rates - and upcoming jobs data could be pivotal to that decision.
Australian shares have edged slightly higher amid trade talks between the world's two largest economies, but a deal on tariffs is yet to come.
Australian investors and markets will keenly monitor how Donald Trump's tariffs impact the US Federal Reserve's outlook for future interest rate cuts.