The ASX 200 rose 54 points, or 0.6%, to close at 8,948 on Tuesday, reversing early losses and extending its advance to a second consecutive session. Risk sentiment improved after U.S. President Trump said Washington was having “good talks” with Iran and that a deal was possible, easing concerns about supply disruptions and pushing oil prices lower.
Domestically, Australia is considering its first new oil refinery in more than six decades as the war in the Middle East constrains global supply. Gains on the local market were broad-based, led by commercial services, healthcare, transport, and financials. The big four banks climbed between 0.7% and 1.2%.
In healthcare, Sonic Healthcare advanced 2.2%, while Sigma Healthcare rose 1.8% and Ramsay Health gained 1.2%. By contrast, Origin Energy slipped after warning of potential data exposure affecting about 900,000 customers in a cybersecurity incident.
Investors are now focused on Australia’s June and Q2 inflation data due on Wednesday, with persistent price pressures remaining a key concern despite three interest rate hikes by the Reserve Bank so far this year.
