Australian shares advanced 33 points, or 0.4%, to 9,039 in early Monday trade, rebounding from the previous session’s weakness on strong gains in non-energy minerals, energy minerals, technology, and logistics stocks. Sentiment improved as Asia-Pacific markets broadly moved higher, supported by signs that the Trump administration may seek to curtail Iran’s nuclear ambitions even without a formal agreement with Tehran.
On the domestic front, August services growth was revised higher, reflecting a rebound in confidence that has nearly returned to its level before the outbreak of war in the Middle East. However, the upside was limited by investor caution ahead of key economic data due this week from China, Australia’s largest trading partner, including August CPI, PPI, and trade figures. Meanwhile, Wall Street is closed today for a holiday, dampening overall trading activity.
Among notable early movers, mining heavyweight BHP Group climbed 1.9%. Three of the four major banks posted modest gains, while Reece Ltd added 2.3%, Bluescope Steel gained 2.0%, and Lynas Rare Earths rose 0.8%.
