ASX 200 Extends Quarterly Gains Despite Monthly Setback

The ASX 200 rose 80 points, or 0.9%, to close at 8,789 on Wednesday, extending gains for a third consecutive session as stronger U.S. futures lifted sentiment ahead of the PCE price index, the Fed's preferred inflation gauge, later today and jobs data Friday. Locally, Reserve Bank of Australia's Governor Michele Bullock reportedly signaled a September rate hike could be the last, interpreted as a dovish cue for traders. Meanwhile, annual inflation eased to 4% in August, just below forecasts of 4.1%, while trimmed mean CPI held at 3.6%. All sectors advanced, led by tech, transport, logistics, and consumer durables. Standouts included Goodman Group (4.0%), Wesfarmers (3.6%), Brambles (2.4%), and Northern Star Resources (6.5%). The big four banks were muted. For September, however, the market fell 3.2%, snapping five months of gains, pressured by housing and fuel costs, lingering inflation, and higher borrowing rates. Still, the index managed a second straight quarterly rise, up 0.12%.