Banks and miners help Australian shares notch best day in two weeks

Oct 15, 2025, 13:13 GMT+7
Key points:

• BHP rises to highest close in a year
• Rio Tinto ends at highest point since May 2024
• Westpac up 2% to log best session in more than two weeks

By Adwitiya Srivastava
Reuters - Australian shares posted their biggest daily gain in two weeks on Wednesday, as investors returned to high-yielding bank stocks and scooped up miners poised to benefit from a positive view on commodity prices, although U.S.-China trade concerns lingered.
The S&P/ASX 200 indexclimbed 1% to 8,990.90, closing shy of the psychologically crucial 9,000 level. It was the benchmark's best session since October 2.
Equities globally staged a tentative rebound, buoyed by dovish remarks from U.S. Federal Reserve Chair Jerome Powell, which helped ease traders' concerns over U.S.-China trade friction.
In Sydney, financialsrallied more than 1% after two days of losses wiped out roughly 2% in value. The "Big Four" banks jumped up to 2%, with no.3 lender Westpac Banking Corpmarking its best day in more than two weeks.
The country's prudential regulator removed an additional A$500 million ($324.15 million) capital add-on on Westpac after the bank completed a required multi-year risk transformation programme.
"The positive market mood lent itself to traders seeking out yield-bearing stocks such as the 'Big Four' banks," said Tim Waterer, chief market analyst at KCM Trade.
The mining sub-indexrose 1.3% to post a record closing high for a second straight session, lending further support to the benchmark.
BHP Group, the world's largest listed miner, closed at its highest level in a year, while the world's no.1 iron ore producer, Rio Tinto, finished at its highest point since May 2024.
"Bellwether miners are benefiting from a bullish outlook for copper and iron ore," Waterer said.
"Potential supply constraints are keeping an upside bias in play for metals such as copper and iron ore, which is keeping investors interested in the likes of BHP and Rio Tinto."
Energy stocks,however, inched 0.1% lower due to weaker oil prices. Sector major Santosslipped more than 2% to its lowest point since late May.
In New Zealand, the S&P/NZX 50 indexrose 0.2% to 13,307.4.

Sumber : Reuters