ASX 200 Closes at More than 1-Week High

Australia's ASX 200 rose 62 points, or 0.7%, to finish at 9,165 on Tuesday, extending gains for a second session to an over one-week peak. Stronger U.S. stock futures lifted risk appetite following a mixed Wall Street close Monday, as Treasury Secretary Scott Bessent vowed to “sever every economic lifeline” to Iran. Traders looked ahead to Fed Chair Warsh’s Jackson Hole speech, a key U.S. inflation print, and Nvidia’s earnings. Locally, focus turned to July inflation after June’s reading eased but stayed above target, with RBA minutes stressing demand remains excessive. Most sectors advanced, led by tech, manufacturing, consumers, and healthcare. Miners drove the benchmark higher on firm commodity prices, with BHP up 0.8% and Rio Tinto 1.0%. Gold stocks gained, including Northern Star Resources (0.6%) and Evolution Mining (1.0%). The four big banks added between 0.1% and 0.8%. In contrast, PLS Group slumped 6.0%, while Woodside Energy (-1.4%) and Santos (-1.3%) also lagged.

Australian stocks advanced 46 points, or 0.5%, to 9,148 in Tuesday’s morning trade, building gains from the prior session and marking their highest level in more than a week. Strength came from tech, manufacturing, energy minerals, and non-energy minerals, though weakness in healthcare and industrial services capped gains. Traders looked ahead to Fed Chair Warsh’s speech at Jackson Hole later this week, alongside a key U.S. inflation report and Nvidia’s earnings. Locally, investors awaited the Reserve Bank's latest meeting minutes later today. They also anticipated July’s inflation print, after June's reading remained above the central bank's target. In the U.S., equity futures were subdued after the Trump administration unveiled plans to isolate Iran’s economy by threatening secondary sanctions on its ‘enablers. Heavyweight BHP jumped 1.5%, while Woodside Energy (2.1%), Wisetech Global (1.5%), and Computershare (1.0%) also posted solid gains. The four big banks rose modestly.

The ASX 200 rose 44 points, or 0.5%, to end at 9,103 on Monday, rebounding from prior losses as non-energy minerals, manufacturing, consumer services, and logistics led gains. Traders looked past softer U.S. stock futures, turning attention to Fed Chair Warsh’s upcoming Jackson Hole remarks for rate signals amid elevated oil prices and multi-decade highs in global bond yields. Locally, focus shifted to Australia’s July inflation print due Wednesday, after June's readings eased to 3.8% from the prior 4%. Fuel retailer Ampol surged 4.3% to a two-year high as refining margins linked to Middle East supply disruptions boosted earnings nearly five-fold. Miners also advanced, with BHP up 3.0% and Rio Tinto 1.2% on strong copper prices. Higher bullion lifted Northern Star Resources (1.7%) and Evolution Mining (2.5%). In contrast, energy lagged, with Santos down 1.8% and Woodside off 0.9%. The big four banks fell between 0.3% and 0.7%, and Endeavour Group tumbled 4.7% after a sharp profit drop.