Australia’s ASX 200 advanced 56 points, or 0.6%, to finish at 8,717 on Friday, snapping a two-session decline as U.S. equity futures firmed and oil prices eased. The pullback in crude followed President Trump’s assurance that Washington would not launch a strike on Tehran before next month’s midterm elections, citing “productive discussions” with Iran.
Sector gains were led by consumer services, retail, healthcare, and utilities, though these were partly offset by softness in technology, communications, and manufacturing. Goodman Group and QBE each rose 3.2%, while Pro Medicus gained 4.5%, Codan 2.7%, Transurban 2.3%, and REA Group 2.2%.
In contrast, three of the big four banks underperformed, and BHP Group edged 0.4% lower. For the week, the benchmark index added 0.4%, extending earlier advances.
Looking ahead, traders are focused on September labor market figures due next week, after August’s unemployment rate climbed to its highest level since 2021. Attention is also on key data releases from China, Australia’s largest trading partner, including CPI, PPI, and trade data, as activity resumes following the Golden Week holiday.
