Australia Stocks Extend Gains as Week Begins

Australian shares rose 24 points or 0.3% to 8,740 in early Monday trade, sustaining prior gains as U.S. futures firmed after Wall Street closed higher last week ahead of a busy run of earnings and inflation data. Locally, investors awaited the Reserve Bank's latest meeting minutes later this week, alongside September labor market, business confidence, and leading index figures. Focus in China, Australia's largest trading partner, turned to CPI/PPI and trade performance. However, gains were tempered by geopolitical risks after reports that U.S. President Donald Trump may join Saudi Arabia in retaliating against Iran-backed Houthis in Yemen. Tech, manufacturing, and consumer durables led advances, though steep losses in communications capped momentum. Notable movers included BHP Group (2.3%), Bluescope Steel (3.2%), South32 (2.8%), and Fortescue Ltd. (1.6%), while three of the four major banks added between 0.2% and 0.8%.