ASX 200 Breaks 4-Day Decline

The S&P/ASX 200 climbed 0.8% to above 8,805 on Thursday, snapping a four-session losing streak, as heavyweight miners and gold stocks advanced on firmer commodity prices. Gold miners extended record gains after bullion hit an all-time high overnight, supported by Fed rate cut bets and lingering political and economic risks. Northern Star and Evolution Mining each rose 0.9%, while Fortescue, Rio Tinto, and Lynas Rare Earths added around 1% to 2%. Tech stocks also jumped 1.3%, led by Xero Limited’s 2.9% surge following a tech-driven rally on Wall Street overnight. Meanwhile, major banks likely staged a technical rebound, with the “Big Four” up nearly 2% each. Investors now await upcoming trade balance figures for signals on the country’s net export performance. On the policy front, market focus is now on the labor market’s gradual easing from full employment, after stronger-than-expected GDP data yesterday, with swaps pricing in a nearly 90% odds the RBA holds rates steady in September.