ASX 200 Turns Early Decline to End Higher
The ASX 200 edged up 15 points, or 0.2%, to close at 8,810 on Monday, reversing early losses as gains in tech, manufacturing, and non-energy minerals lifted sentiment. Stronger U.S. stock futures also supported the market ahead of major central bank decisions, including the Fed, and further U.S. earnings reports. Traders anticipated September inflation data due later this week, after August CPI eased to 4.0%, below the 4.1% forecast but still above the RBA’s 2—3% target. Investors largely looked past RBA Assistant Governor Hunter’s warning that further rate hikes may be needed amid persistent inflation and the risk of imported price pressures becoming entrenched. Mining stocks rose, with BHP Group up 0.9% and Fortescue gaining 0.7% as iron ore prices steadied. Energy shares strengthened, led by Santos (2.2%) and Woodside Energy (1.5%), while Sandfire Resources (4.0%) and BlueScope Steel (2.9%) also gained. PLS Group surged 8.4% on improving lithium sentiment and higher prices.
The ASX 200 edged up 15 points, or 0.2%, to close at 8,810 on Monday, reversing early losses as gains in tech, manufacturing, and non-energy minerals lifted sentiment. Stronger U.S. stock futures also supported the market ahead of major central bank decisions, including the Fed, and further U.S. earnings reports.
Traders anticipated September inflation data due later this week, after August CPI eased to 4.0%, below the 4.1% forecast but still above the RBA’s 2—3% target. Investors largely looked past RBA Assistant Governor Hunter’s warning that further rate hikes may be needed amid persistent inflation and the risk of imported price pressures becoming entrenched. Mining stocks rose, with BHP Group up 0.9% and Fortescue gaining 0.7% as iron ore prices steadied. Energy shares strengthened, led by Santos (2.2%) and Woodside Energy (1.5%), while Sandfire Resources (4.0%) and BlueScope Steel (2.9%) also gained.
PLS Group surged 8.4% on improving lithium sentiment and higher prices.