ASX 200 Snaps Losing Streak, Ends at Near Two-Week High

2026-05-06 07:00 By Farida Husna 1 min. read

The S&P/ASX 200 surged 113 points or 1.3% to close at 8,794 on Wednesday, ending two sessions of losses and nearing a two-week high.

A solid rise in U.S.

stock futures boosted sentiment after Wall Street hit record highs, as President Trump signaled a comprehensive deal with Iran was close and paused naval operations in the Strait of Hormuz.

Regional confidence was reinforced by stronger April manufacturing and services data in China, Australia’s top trading partner.

However, gains were capped by caution ahead of Australia's trade data later this week.

On the policy front, the Reserve Bank raised rates for a third straight meeting on Tuesday, in line with expectations, but warned that higher fuel costs from the Middle East conflict risk second-round inflation effects.

Sector gains were broad, led by non-energy minerals, logistics, and financials.

PLS Group climbed 3.3%, followed by Fortescue (3.2%), BHP (3.0%), and Evolution Mining (2.2%).

The big four banks rose between 2.8% and 3.5%.



News Stream
ASX 200 Snaps Losing Streak, Ends at Near Two-Week High
The S&P/ASX 200 surged 113 points or 1.3% to close at 8,794 on Wednesday, ending two sessions of losses and nearing a two-week high. A solid rise in U.S. stock futures boosted sentiment after Wall Street hit record highs, as President Trump signaled a comprehensive deal with Iran was close and paused naval operations in the Strait of Hormuz. Regional confidence was reinforced by stronger April manufacturing and services data in China, Australia’s top trading partner. However, gains were capped by caution ahead of Australia's trade data later this week. On the policy front, the Reserve Bank raised rates for a third straight meeting on Tuesday, in line with expectations, but warned that higher fuel costs from the Middle East conflict risk second-round inflation effects. Sector gains were broad, led by non-energy minerals, logistics, and financials. PLS Group climbed 3.3%, followed by Fortescue (3.2%), BHP (3.0%), and Evolution Mining (2.2%). The big four banks rose between 2.8% and 3.5%.
2026-05-06
Australian Shares Rebound
Australian stocks rose 58 points or 0.7% to 8,740 in Wednesday morning trade, snapping two sessions of weakness as stronger U.S. equity futures lifted market sentiment after President Donald Trump announced a pause in operations to reopen the Strait of Hormuz, saying a deal with Iran was close. Locally, industry conditions showed less severe contraction in April. However, gains were capped by caution ahead of March trade data later this week, following February’s rise in exports and fall in imports. On the monetary front, the Reserve Bank raised cash rates for a third straight meeting Tuesday, warning the Middle East oil crisis could fuel inflation and prolong price pressures. Financials, logistics, and consumer durables led gains, offset partly by declines in energy minerals and consumer non-durables. Early standouts included Liontown Ltd. (2.7%), Codan Ltd. (2.0%), Qantas Airways (1.9%), and BHP Group (0.8%). Meanwhile, the four major banks climbed between 1.7% and 3.2%.
2026-05-06
ASX 200 Pares Losses at Finish
The S&P/ASX 200 fell 17 points or 0.2% to close at 8,680 on Tuesday, marking the second session of declines after the Reserve Bank of Australia raised cash rates for the third consecutive meeting to rein in stubborn inflation, in line with estimates. Policymakers noted inflation was already elevated before the Middle East conflict, with higher fuel costs adding pressure. Traders also cautiously awaited March trade data later this week, after February showed exports rising while imports fell. Still, losses eased as Australia's personal spending posted its strongest growth in 2-1/2 years during March, recording a third monthly gain. Meanwhile, U.S. stock futures strengthened as traders eyed the latest developments in the Middle East. Sector weakness was led by process industries, healthcare, and consumer durables. The four major banks retreated between 0.4% to 1.6%, while notable laggards included Sonic Healthcare (-4.2%), Lynas Rare Earths (-2.3%), and Northern Star Resources (-1.7%).
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