ASX 200 Rises Further to End at Over 5-Week High

Australia's ASX 200 added 39 points, or 0.4%, to close at 8,846 on Monday, extending prior gains and marking its highest level in more than five weeks, as stronger U.S. stock futures lifted sentiment ahead of more earnings reports. Meanwhile, oil eased from a five-month top as Middle East clashes were weighed against steady supply. In top trading partner China, Q3 GDP growth topped forecasts, aided by policy easing and resilient exports. Locally, RBA Assistant Governor Kent flagged firm business credit but softer household demand, questioning if rates are tight enough after September’s hike. Energy minerals, industrial services, and financials led gains, while weakness in tech and commercial services capped upside. The big four banks rose 0.7%—1.5%, with BHP and Rio Tinto rebounding from early losses. Notable movers included Yancoal (5.7%), Charter Hall (4.5%), and Nextdc (3.6%). Challenger surged 19.3% after TAL Dai-ichi Life made a non-binding takeover bid at AUD 11.80 per share.