ASX 200 Closes 0.3% Higher
The ASX 200 added 26 points, or 0.3%, to finish at 8,758 on Tuesday, breaking a run of muted sessions. A modest lift in U.S. futures helped sentiment after chip stocks rallied on Wall Street Monday amid optimism over Meta’s new AI agent. Global oil prices slipping below USD 100 a barrel on prospects of Middle East talks at the UN also buoyed risk appetite. Investors rotated into tech, consumer durables, manufacturing, and services, though gains were capped after Australia’s central banker warned upside inflation risks may be emerging as energy costs remain high and domestic demand stays firm, reinforcing bets on a rate hike next week. Caution also grew ahead of flash September PMI and August labor data later this week. Tech names led, with Nextdc up 3.6%, Technology One 2.9%, and Wisetech Global 2.8%. Other standouts included Lynas Rare Earths (3.8%), ASX Ltd. (2.8%), and Qantas Airways (1.8%), underscoring selective strength across the market.
3%, to finish at 8,758 on Tuesday, breaking a run of muted sessions. S. futures helped sentiment after chip stocks rallied on Wall Street Monday amid optimism over Meta’s new AI agent. Global oil prices slipping below USD 100 a barrel on prospects of Middle East talks at the UN also buoyed risk appetite.
Investors rotated into tech, consumer durables, manufacturing, and services, though gains were capped after Australia’s central banker warned upside inflation risks may be emerging as energy costs remain high and domestic demand stays firm, reinforcing bets on a rate hike next week. Caution also grew ahead of flash September PMI and August labor data later this week. 8%. 8%), ASX Ltd.
8%), underscoring selective strength across the market.