The ASX 200 rose 24 points, or 0.3%, to close at 9,153 on Wednesday, extending its advance to a third straight session and trading near an 11-week high. The index recovered from a soft open, supported by stronger U.S. stock futures after Wall Street fell on Tuesday in response to hotter-than-expected U.S. inflation data, which strengthened expectations of a Federal Reserve rate hike in December.
Risk sentiment was also bolstered by developments in China, Australia's largest trading partner, where the trade surplus exceeded USD 1 trillion in the first 10 months of 2026 for a second consecutive year, underpinned by robust global demand for AI-related products despite sluggish domestic consumption.
Investors largely shrugged off Australia’s weak Q3 lending indicators, which highlighted the drag from higher borrowing costs. Industrial services, manufacturing, and utilities led the market higher, outweighing declines in commercial services and consumer durables. Heavyweights BHP Group (up 1.0%) and Rio Tinto (up 0.4%) reversed earlier losses, while technology shares also gained, led by WiseTech Global (up 3.0%) and Xero Ltd. (up 2.0%).