Australia’s ASX 200 rose 0.2% to finish at 8,831 on Wednesday, rebounding from a modest decline in the previous session as U.S. equity futures firmed despite ongoing concerns over AI-related capital spending. Gains in transport, commercial services, and communication stocks outweighed losses in logistics, industrial services, and consumer names. The four major banks advanced between 0.2% and 1.4%, while technology shares also climbed, led by Xero (+3.8%) and Wisetech Global (+2.4%).
Nextdc sank 40.6%—its sharpest one-day fall in nearly nine years—after it slashed its FY2027 guidance, citing delays in securing power network connections. Woodside Energy edged 0.3% lower after cutting its 2026 production outlook, even as it posted better-than-expected Q3 revenue. Mining heavyweights BHP Group and Rio Tinto declined 1.7% and 1.8%, respectively. Investors now look ahead to Australia’s flash October PMI data due Friday, as well as testimony from Reserve Bank Governor Michele Bullock before lawmakers on the same day.
