FX.co ★ ASX 200 Ends 0.8% Higher, Logs First Weekly Gain in 5 Weeks

Australia’s ASX 200 rose 68 points, or 0.8%, to close at 8,682 on Friday, recouping part of Thursday’s 2% slide as bargain hunters moved in after the index touched its lowest level since mid-June. Risk sentiment improved after U.S. PCE inflation came in cooler than expected ahead of the closely watched monthly jobs report, while U.S. equity futures also strengthened.

On the domestic front, investors are looking ahead to final September PMI figures and October business and consumer confidence data due next week. Trade numbers for August showed robust export growth, although the surplus narrowed as imports surged.

Gains on the day were broad-based, led by technology, consumer-related shares, energy minerals, and retail stocks. The big four banks rose between 0.4% and 1.7%, while mining heavyweights BHP and Rio Tinto each added 1.2%. Notable outperformers included Wisetech (+6.4%), Xero (+5.0%), QBE (+4.2%), and Whitehaven Coal (+3.9%). Weighing on the index were Cochlear (-4.0%), Pro Medicus (-2.7%), and Goodman Group (-2.5%).

For the week, the ASX 200 edged up 0.2%, breaking a run of four consecutive weekly declines.