ASX 200 Rebounds to One-Month Peak

2026-06-03 06:43 By Farida Husna 1 min. read

Australia's ASX 200 rose 61 points, or 0.7%, to close at 8,786 on Wednesday, recovering from subdued trade in the prior two sessions and reaching its highest level in a month.

Meantime, a weaker Q1 GDP print reinforced views that the central bank may pause further policy tightening after delivering three rate hikes so far this year amid persistent inflation pressures.

Gains were led by producer manufacturing, non-energy minerals, and process industries, which more than offset weakness in consumer, healthcare, and commercial services stocks.

BHP Group jumped 2.5% to a record high as copper and iron ore prices increased.

Rio Tinto gained 1.9%, also reaching a fresh peak.

Northern Star Resources surged 4% after Morningstar highlighted the possibility of a sale of the gold miner.

Fuel retailer Ampol added over 2% after Australia's competition regulator approved its acquisition of EG Australia.

Financial stocks also advanced, with the four major banks posting gains of between 1.0% and 1.7%.



News Stream
ASX 200 Rebounds to One-Month Peak
Australia's ASX 200 rose 61 points, or 0.7%, to close at 8,786 on Wednesday, recovering from subdued trade in the prior two sessions and reaching its highest level in a month. Meantime, a weaker Q1 GDP print reinforced views that the central bank may pause further policy tightening after delivering three rate hikes so far this year amid persistent inflation pressures. Gains were led by producer manufacturing, non-energy minerals, and process industries, which more than offset weakness in consumer, healthcare, and commercial services stocks. BHP Group jumped 2.5% to a record high as copper and iron ore prices increased. Rio Tinto gained 1.9%, also reaching a fresh peak. Northern Star Resources surged 4% after Morningstar highlighted the possibility of a sale of the gold miner. Fuel retailer Ampol added over 2% after Australia's competition regulator approved its acquisition of EG Australia. Financial stocks also advanced, with the four major banks posting gains of between 1.0% and 1.7%.
2026-06-03
Australia Stocks Inch Higher Ahead of GDP Data
Australian shares edged up 14 points, or 0.2%, to 8,739 in early Wednesday trade, snapping two sessions of muted activity after Wall Street closed mostly higher overnight. Sentiment improved following remarks from President Trump and Secretary of State Marco Rubio, who signaled Washington remained engaged in talks with Tehran over a potential deal to halt the Middle East conflict. Gains, however, were limited by fresh data showing industry conditions stayed weak in Australia during May, reflecting an energy crisis and broader economic uncertainty. Investors also turned cautious ahead of Q1 GDP figures due later today, with expectations for slower growth amid global headwinds and continued monetary tightening. Sector strength came from non-energy minerals, producer manufacturing, and process industries, while consumer durables, healthcare, and commercial services weighed. Notable movers included BHP Group (2.3%), Northern Star Resources (4.8%), and Mineral Resources (2.1%).
2026-06-03
ASX 200 Finishes Flat Ahead of GDP Data
The ASX 200 ended little changed at 8,724 on Tuesday, recovering from early weakness as gains in tech services, healthcare, and non-energy minerals offset losses in retail trade, process industries, and financials. Traders anticipated Australia's GDP readings for Q1, due on Wednesday, seeking cues on the central bank's monetary policy path ahead of its meeting later this month. Meanwhile, fresh data released today showed business stocks in Australia rebounded in Q1 after falling in the prior two periods. However, corporate profits during the period fell after solid growth in Q4. Meanwhile, Q1 current account deficit hit a record peak, underperforming forecasts. The four major banks fell between 0.2% and 3.9%, while other notable losers included PLS Group (-2.8%), Woodside Energy (1.8%), and Aristocrat Leisure (1.3%). On the upside, Northern Star Resources jumped 13.6% after activist investor Elliott Investment disclosed an over AUD 1 billion stake and called for a strategic review.
2026-06-02