AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- ASX opens higher as investors eye inflation data
- Major banks advance; miners and energy stocks mixed
- Wall Street gains provide positive offshore cues
The Australian share market started Wednesday on a positive note, mirroring the momentum from Wall Street, with investors cautiously positioning ahead of critical local inflation data. The benchmark S&P/ASX 200 ASX200 index rose 0.29% or 23.40 points to 8,094 within the first 30 minutes of trade, with gains broadly spread across most of the 11 major sectors.
Investor sentiment remains measured as market participants await the Australian Bureau of Statistics' Consumer Price Index data for the March quarter, due at 11.30am AEST. The outcome may shape the Reserve Bank of Australia’s (RBA) next interest rate decision, with easing inflation potentially paving the way for a rate cut.
Mixed Performance in Commodities and Energy
Mining heavyweights delivered a varied performance. (ASX:BHP) and (ASX:FMG) showed minor fluctuations in early trading, while (ASX:RIO) remained relatively flat. These movements come amid cautious global commodity markets and a backdrop of subdued sentiment in the resource sector.
Energy shares faced headwinds, as global crude oil prices dipped. (ASX:WDS) and (ASX:STO) registered modest declines, reacting to Brent crude dropping nearly 3% to US$63.93 per barrel and WTI crude down 2.63% to US$60.42 per barrel. The energy sector’s performance weighed slightly on the broader index, though not enough to counterbalance overall market gains.
Banks Support Broader Market Momentum
Financial stocks helped sustain early gains. The Big Four banks moved higher, led by (ASX:WBC), which rose 0.45% despite indicating a $140 million first-half profit impact due to hedging-related write-downs. (ASX:CBA), (ASX:NAB), and (ASX:ANZ) also contributed to the sector’s resilience, as confidence in the banking sector's fundamentals stayed intact.
Global Cues and Economic Focus
The local rally was underpinned by positive cues from Wall Street, where all major indices—Dow Jones, S&P 500, and Nasdaq—closed in the green. Signs of progress in the US administration's tariff negotiations provided a modest boost to global equity sentiment.
On the currency front, the Australian dollar traded marginally higher at 63.86 US cents, while spot gold edged lower by 0.79% to US$3,317.41 per ounce. Meanwhile, Bitcoin dipped 0.47% to US$94,587.91.
With attention centered on the March quarter inflation print, sectors linked to consumer activity and rate-sensitive assets remain in focus. The outcome could influence future monetary policy, investor positioning, and even sentiment around ASX dividend stocks in the coming months.
