06.08.202600:41:46UTC+00Australian Shares Extend Rally to New Record

Australian shares extended their winning streak on Thursday, rising 59 points, or 0.6%, to a new record of 9,286 in early trade. The market was supported by stronger U.S. futures, even as Wall Street ended mixed overnight with investors reassessing valuations after a sharp rebound in AI-linked stocks. Domestic sentiment was also buoyed by fresh inflows at the start of the new financial year.

Recent data showed private sector activity expanding at its fastest pace in six months, underpinned by a strengthening services sector and a rebound in factory orders. Sector gains were led by non-energy minerals, consumer stocks, healthcare, and utilities, while technology, commercial services, and energy minerals lagged.

Among major names, BHP climbed 1.1%, Evolution Mining jumped 5.7%, Northern Star Resources gained 4.5%, and REA Group rose 2.1%. The big four banks advanced between 0.3% and 0.5%. Traders are now focused on trade data due later today from Australia, followed by figures from key trading partner China on Friday.