Australian shares edged up 12 points, or 0.2%, to 8,994 around midday Thursday, breaking a three-session losing streak after Wall Street rebounded from earlier declines driven by rising US Treasury yields and renewed US–Iran tensions. Bargain hunters stepped in after the local market hit a four-week low, lifting most sectors, particularly non-energy minerals, manufacturing, and industrials. Gains were limited, however, by trade data showing the surplus narrowed to AUD 1.9 billion in July, as exports fell more sharply than imports.
At the same time, stronger-than-expected Q2 GDP figures reinforced expectations that the Reserve Bank will raise interest rates at its meeting later this month. Among major stocks, the big four banks rose between 0.5% and 1.5%, while PLS Group climbed 3.0%, Fortescue added 2.7%, and Orica advanced 2.2%. In contrast, heavyweight BHP Group slipped 1.1%.
