Australian Stocks Snap 3-Session Decline


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The S&P/ASX 200 index saw a 0.5% increase to approximately 8,990 in early Thursday trading, marking a recovery after three consecutive losses, primarily driven by gains in major mining companies. Prominent miners such as BHP Group and Rio Tinto experienced upticks of 1.6% to 2% due to rising metal prices. The technology sector also saw an upswing, with companies like Wisetech, up 1.6%, Xero, up 1%, and Life360, up 1.5%, aligning with positive movements in U.S. markets overnight. Investors largely ignored concerns about the ongoing U.S. government shutdown and fears of a potential artificial intelligence bubble, with Nvidia’s CEO highlighting a significant increase in demand for AI computing over the past six months. Conversely, gold stocks showed a 0.7% decline, attributed to profit-taking after gold prices reached an unprecedented high, surpassing the $4,000 per ounce mark. On another note, recent data indicated that Australia’s consumer inflation expectations for October 2025 rose to 4.8%, the highest level in four months. This rise is attributed to diminishing subsidies, increasing labor costs, and international pressures, raising concerns that third-quarter inflation may exceed current forecasts.




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