ASX 200 rebounds 0.5% to close at 9,020
The ASX 200 gained 42 points, or 0.5%, to end at 9,020, rebounding from three straight declines. The move followed bargain hunting after Australia’s Q2 GDP data kept rate-hike expectations elevated.
The ASX 200 gained 42 points, or 0.5%, to end at 9,020 on Thursday, rebounding from declines in the prior three sessions amid bargain hunting after Australian markets fell to a four-week low due to Q2 GDP data that reinforced views that the Reserve Bank will deliver another rate hike at its meeting later this month.
In top trading partner China, private-sector activity accelerated in August from July’s four-month low, with stronger output and new orders for both manufacturing and services sectors.
Non-energy minerals led gains, followed by financials, manufacturing, and communications, though losses in energy minerals, consumer durables, and healthcare capped the advance.
Gold miners rallied, with Northern Star Resources and Evolution Mining each up 2.6%.
The big four banks rose 1%—2%, while Lynas Rare Earths climbed 2.4%.
In contrast, Corporate Travel plunged 84% to a near 14-year low after trading resumed following a year-long suspension over missed financial reporting deadlines.