Stocks in Australia and New Zealand end at record highs
- Australia’s S&P/ASX 200 benchmark index added 0.9% to end at a lifetime closing peak of 9,227.80 points
Equities in Australia and New Zealand closed at all-time highs on Wednesday, with those in Sydney led by miners and technology stocks following a rally in U.S. tech shares and hopes of easing Middle East tensions.
Australia’s S&P/ASX 200 benchmark index added 0.9% to end at a lifetime closing peak of 9,227.80 points, while its counterpart in New Zealand finished 0.7% higher at a record 13,997.18 points.
In Sydney, a fourth consecutive session of gains pushed the relative strength index for the benchmark ASX200 index into overbought territory, and to its highest since mid-June 2025.
Risk appetite was strong following a strong rally in U.S. and European equities on the back of strong AI-driven earnings
with easing oil prices further bolstering the risk-on mood.
“The ASX200 has received support from new money coming into the market at the start of the new financial year, while the index has also attracted inflows as a lower-beta safe-haven destination to ride out the ongoing volatility in high-beta, tech-heavy markets in Asia,” said IG market analyst Tony Sycamore.
Australian shares extend gains as signs of Iran war de-escalation lift risk appetite
Investors now turn their attention to the August earnings season, with a packed reporting calendar likely to drive sentiment in the coming weeks.
Sycamore sees the ASX 200 at risk of slipping and retesting the 9,000 level, with a sustained breakout unlikely before reporting season concludes and potentially not until September.
On the day, miners rose 3.7% to log their best day in over seven weeks on the back of rising iron ore prices.
Heavyweights BHP, Rio Tinto, and Fortescue gained between 0.6% and 3.3%.
Gold miners advanced 6.4%, posting their strongest session in about a month.
Tech stocks added 2.5% to hit an eight-week high, tracking Wall Street rise.
Limiting some gains, financials slipped 0.4% log their worst day in about two weeks, with the “big four” banks declining between 0.4% and 1.4%.
Energy stocks fell 2.2%, posting their weakest session in over a week due to weaker oil prices.
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