Australian stocks Rise for 3rd Session
Australian equities rose 39 points, or 0.4%, to 8,725 in Tuesday morning trade, marking a third straight gain after Wall Street closed higher overnight on AI optimism and buyout activity, even as Treasury yields hovered near 5.31%. Locally, the Melbourne Institute’s September Inflation Gauge added 0.3% mom, marking the smallest rise in three months and suggesting tighter policy is cooling price pressures though risks remain. Commercial services led advances, with consumer non-durables, consumer services, and healthcare also firm. Gains were tempered, however, as October consumer sentiment in Australia stayed in negative territory, though the pace of decline eased despite higher fuel and borrowing costs. Standout movers included PLS Group (4.4%), Bluescope Steel (2.4%), Capricorn Metals (2.6%), and Scentre Group (2.1%). Traders now look to September job ads data later today, while Chinese markets return Thursday after the Golden Week holiday.
31%. 3% mom, marking the smallest rise in three months and suggesting tighter policy is cooling price pressures though risks remain. Commercial services led advances, with consumer non-durables, consumer services, and healthcare also firm. Gains were tempered, however, as October consumer sentiment in Australia stayed in negative territory, though the pace of decline eased despite higher fuel and borrowing costs.
1%). Traders now look to September job ads data later today, while Chinese markets return Thursday after the Golden Week holiday.