The ASX 200 advanced 30 points, or 0.3%, to 8,709 on Tuesday, extending recent gains on strength in consumer durables, technology, and manufacturing stocks. Sentiment was underpinned by the Reserve Bank of Australia’s reassurance that monetary policy is well positioned to respond to evolving economic conditions, with the board reiterating its commitment to price stability and full employment.
At its September meeting, the RBA raised the cash rate to a 15-year high of 4.6% in its fourth increase this year, in line with expectations. Traders are now looking ahead to key domestic data due later this week, including August inflation, trade figures, and private sector credit, while also preparing for the release of September PMI data from China, Australia’s largest trading partner.
Fresh data showed household spending was unchanged in August, halting three consecutive months of growth. Among individual names, BHP Group rose 0.6% and Rio Tinto added 0.4%, while South32 and Wisetech Global climbed 2.9% and 2.8%, respectively. In contrast, the big four banks slipped between 0.3% and 0.9%, and energy heavyweights Woodside (-1.1%) and Santos (-1.0%) underperformed.
