Australian equities jumped 133 points, or 1.6%, to 8,615 around mid-day on April’s first trading session, extending prior gains after a strong surge on Wall Street Tuesday. Sentiment was booosted by remarks from Iranian President Masoud Pezeshkian signaling willingness to negotiate an end to the war, alongside reports that U.S. President Trump may end operations without a full reopening of the Strait of Hormuz. Meanwhile, local data showed that building permits rebounded sharply in February, driven by approvals for private-sector dwellings excluding houses.
Almost all sectors in the ASX 200 advanced, led by non-energy minerals, commercial services, consumer durables, and logistics. Nevertheless, gains were capped by caution ahead of domestic trade performance, due later this week, after exports fell while imports rose in January. Among top performers were Northern Star Resources (6.8%), Sandfire Resources (6.2%), PLS Group (5.5%), BHP Group (4.3%), and Fortescue Ltd. (3.2%).
