The ASX 200 advanced 42 points, or 0.5%, to close at 9,020 on Thursday, snapping a three-session losing streak as bargain hunters moved in after the market hit a four-week low. The earlier weakness followed Q2 GDP data that reinforced expectations the Reserve Bank of Australia could deliver another rate hike at its meeting later this month.
Sentiment was further supported by data from China, Australia’s largest trading partner, showing private-sector activity accelerated in August from July’s four-month low, with stronger output and new orders across both manufacturing and services.
Sector performance was mixed. Non-energy minerals led the advance, followed by financials, manufacturing, and communications. Gains were partially offset by declines in energy minerals, consumer durables, and healthcare.
Gold producers were among the standouts, with Northern Star Resources and Evolution Mining each rising 2.6%. The big four banks gained between 1% and 2%, while Lynas Rare Earths added 2.4%.
On the downside, Corporate Travel collapsed 84% to a near 14-year low after trading resumed, following a year-long suspension prompted by missed financial reporting deadlines.
