ASX 200 Inches Higher at Finish
Australia's ASX 200 added 0.2% to close at 8,831 on Wednesday, reversing a modest drop in the prior session as U.S. equity futures firmed despite persistent concerns over AI spending. Transport, commercial services, and communication stocks drove the gains, offsetting weakness in logistics, industrial services, and consumer sectors. Four major banks rose between 0.2% and 1.4%, while tech names also gained, led by Xero (3.8%) and Wisetech Global (2.4%). In contrast, Nextdc plunged 40.6%, its steepest drop in nearly nine years, after sharply lowering its FY2027 guidance following delays in securing power network connections. Woodside Energy slipped 0.3% after trimming its 2026 production outlook despite reporting stronger-than-expected Q3 revenue. Mining giants BHP Group and Rio Tinto fell 1.7% and 1.8%, respectively. Traders now await Australia’s flash October PMI data due Friday and comments from Reserve Bank Governor Michele Bullock scheduled to appear before lawmakers on that day.
Australia's ASX 200 added 0.2% to close at 8,831 on Wednesday, reversing a modest drop in the prior session as U.S. equity futures firmed despite persistent concerns over AI spending. Transport, commercial services, and communication stocks drove the gains, offsetting weakness in logistics, industrial services, and consumer sectors. Four major banks rose between 0.2% and 1.4%, while tech names also gained, led by Xero (3.8%) and Wisetech Global (2.4%).
In contrast, Nextdc plunged 40.6%, its steepest drop in nearly nine years, after sharply lowering its FY2027 guidance following delays in securing power network connections. Woodside Energy slipped 0.3% after trimming its 2026 production outlook despite reporting stronger-than-expected Q3 revenue. Mining giants BHP Group and Rio Tinto fell 1.7% and 1.8%, respectively. Traders now await Australia’s flash October PMI data due Friday and comments from Reserve Bank Governor Michele Bullock scheduled to appear before lawmakers on that day.