Australian shares rose 22 points, or 0.2%, to 9,186 in early trade on Wednesday, advancing for a third straight session. The local market tracked overnight gains on Wall Street, where a rebound in technology stocks, along with lower oil prices and easing Treasury yields, supported sentiment. The benchmark reached its highest level in two weeks, with notable buying in non-energy minerals and retail trade stocks.
Upside momentum, however, was limited by caution ahead of key domestic releases later today, including July inflation data, the July leading index, and Q2 construction output. At the same time, minutes from the Reserve Bank’s July meeting signalled that inflation is expected to return to target only gradually, by late 2027, even though price pressures have eased from their March peak.
Among individual names, heavyweight BHP Group climbed 1.4%, while Woolworths Group jumped 4.2%, Evolution Mining gained 1.6%, and Qantas Airways advanced 1.0%. By contrast, energy stocks weakened, with Woodside Energy down 4.3% and Santos falling 3.0%.
