The ASX 200 rose 21 points, or 0.2%, to close at 8,808 on Wednesday, snapping a four-session losing streak. Softer May headline inflation underpinned sentiment, even as core inflation remained slightly elevated. Across Asia, most markets advanced, supported by higher U.S. stock futures and easing geopolitical risk in the Middle East, with tanker traffic through the Strait of Hormuz gradually returning to normal. Later this week, attention will shift to U.S. PCE inflation data and the final reading of GDP.
Gains on the local bourse were broad-based, led by tech services, healthcare, consumer, and commercial stocks, while energy and mining names lagged. Three of the big four banks added between 0.1% and 1.2%. Wisetech Global rebounded 14.5% after its recent sell-off, while Lynas Rare Earths climbed 4.3%, PLS Group gained 3.6%, and Pro Medicus advanced 3.9%. On the downside, Woodside Energy slipped 1.4% and Santos declined 1.0%. Traders are now looking ahead to Thursday’s labour market and household spending data for further signals on the strength of the domestic economy.
