Australian shares inched higher in early Thursday trade, with the benchmark ASX 200 hovering near 8,850 to extend gains into a second session. Sentiment was supported by firmer U.S. equity futures after Wall Street closed higher overnight, helped by softer inflation signals and a solid start to the Q2 earnings season.
On the domestic front, Treasurer Jim Chalmers urged regulators to adopt a more pro‑growth orientation in a bid to revive productivity. Across Asia, China’s weakest annual GDP growth since 2022 in the June quarter heightened expectations of additional stimulus, with officials warning that external risks remain elevated and that demand continues to lag supply.
Sector performance was mixed: utilities, healthcare, and consumer services led the advance, partly offset by softness in consumer durables, electronic technology, and non‑energy minerals. The big four banks gained between 0.2% and 1.0%, while notable moves included Seek up 1.9%, ASX up 1.4%, and TPG Telecom up 0.7%.
Traders are now looking ahead to Melbourne Institute inflation expectations data, as well as U.S. retail sales and weekly jobless claims, for further guidance on the economic outlook.