The Australian stock market is maintaining its early gains in mid-market moves on Wednesday, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving well above the 9,000 mark, following the mixed cues from Wall Street overnight, with gains across most sectors led by mining and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 92.10 points or 1.03 percent to 9,039.90, after touching a high of 9,086.10 earlier. The broader All Ordinaries Index is up 90.20 points or 0.99 percent to 9,202.20. Australian stocks ended notably higher on Tuesday.
Among major miners, BHP Group is gaining more than 1 percent, Fortescue is adding almost 2 percent, Mineral Resources is surging almost 5 percent and Rio Tinto is advancing more than 4 percent.
Oil stocks are mostly higher. Origin Energy and Woodside Energy are edging up 0.3 percent each, while Beach energy is gaining more than 1 percent. Santos is edging down 0.4 percent.
In the tech space, Afterpay owner Block, WiseTech Global and Zip are gaining more than 3 percent each, while Xero is surging almost 5 percent and Appen is skyrocketing more than 20 percent after delivering the strongest quarter in years and reaffirming full-year guidance.
Among the big four banks, ANZ Banking, Commonwealth Bank and National Australia bank are gaining almost 1 percent each, while Westpac is edging up 0.3 percent.
Among gold miners, Resolute Mining, Evolution Mining and Northern Star Resources are gaining more than 2 percent each, while Genesis Minerals is losing more than 1 percent and Newmont is edging down 0.2 percent.
In other news, shares in Meteoric Resources are surging almost 7 percent after it inked a strategic rare earth partnership with POSCO International to support Caldeira’s development in Brazil.
In economic news, the annual inflation rate in Australia unexpectedly eased to 3.8 percent in June 2026 from both May’s reading and expectations of 4.0 percent, but remained above the central bank’s 2 to 3 percent target range. It was the softest increase since February.
The trimmed mean CPI stood at 3.6 percent on year, still the highest since September 2024 but below expectations of 3.7 percent, while the weighted median CPI rose 3.7 percent, after a 3.6 percent gain in May. Monthly, the CPI unexpectedly edged down 0.1 percent, marking its second consecutive monthly decline and defying expectations of a 0.2 percent rise.
In the currency market, the Aussie dollar is trading at $0.695 on Wednesday.
Market Analysis
Australian Market Maintains Early Gains In Mid-market
2026-07-29 03:30:58
