ASX 200 Closes Higher as Markets Recover from Sluggish Start
The ASX 200 added 24 points, or 0.3%, to finish at 9,153 on Wednesday, extending gains for a third session while hovering near an 11-week high. The index rebounded from a sluggish start, helped by stronger U.S. stock futures after Wall Street losses Tuesday following hot U.S. inflation data that reinforced bets for a December Fed rate hike. Sentiment also drew support from China, Australia's largest trading partner, where the trade surplus surpassed USD 1 trillion in the first 10 months of 2026 for a second straight year, buoyed by strong demand for AI-related products despite weak domestic consumption. Markets looked past Australia's weak Q3 lending indicator, which reflected the impact of elevated borrowing costs. Industrial services, manufacturing, and utilities led gains, offsetting weakness in commercial services and consumer durables. BHP Group (1.0%) and Rio Tinto (0.4%) reversed early losses. Tech stocks also advanced, led by WiseTech Global (3.0%) and Xero Ltd. (2.0%).
The ASX 200 added 24 points, or 0.3%, to finish at 9,153 on Wednesday, extending gains for a third session while hovering near an 11-week high. The index rebounded from a sluggish start, helped by stronger U.S. stock futures after Wall Street losses Tuesday following hot U.S. inflation data that reinforced bets for a December Fed rate hike.
Sentiment also drew support from China, Australia's largest trading partner, where the trade surplus surpassed USD 1 trillion in the first 10 months of 2026 for a second straight year, buoyed by strong demand for AI-related products despite weak domestic consumption. Markets looked past Australia's weak Q3 lending indicator, which reflected the impact of elevated borrowing costs. Industrial services, manufacturing, and utilities led gains, offsetting weakness in commercial services and consumer durables. BHP Group (1.0%) and Rio Tinto (0.4%) reversed early losses.
Tech stocks also advanced, led by WiseTech Global (3.0%) and Xero Ltd. (2.0%).