Australian Shares Extend Rally to New Record

Australian shares continued their winning streak Thursday, climbing 59 points, or 0.6%, to a fresh high of 9,286 in early trade, buoyed by stronger U.S. futures despite Wall Street’s mixed overnight close as investors reassessed valuations following a sharp rebound in AI-linked stocks. Locally, sentiment was lifted by inflows at the start of the new financial year. Meanwhile, recent data showed private sector activity expanding at the fastest pace in six months, with services firming and factory orders rebounding. Gains were led by non-energy minerals, consumer names, healthcare, and utilities, while weakness was seen in tech, commercial services, and energy minerals. Heavyweights BHP rose 1.1%, Evolution Mining surged 5.7%, Northern Star Resources added 4.5%, and REA Group advanced 2.1%. The big four banks edged up between 0.3% and 0.5%. Traders now turn to trade figures due later today from Australia and from main trading partner China on Friday.





