Australian shares hit new all-time high: Here's why
Australian shares just reached a new all-time high, with the S&P/ASX 200 jumping 1% to 9,054.50 on Monday.
The big boost came after US Federal Reserve Chair Jerome Powell hinted at a possible interest rate cut this September, sparking fresh optimism among investors—especially in mining, where BHP and Rio Tinto both saw solid gains.
Financials, tech, energy stocks also climbed
A strong Aussie market is often seen as a sign of more confidence for local investors and job seekers alike.
Financials, tech, and energy stocks also climbed, while gold stocks hit their highest level since June—Northern Star Resources and Evolution Mining led the way.
These moves reflect how closely Australia's economy is tied to global trends and US decisions.
Corporate updates added extra momentum
Powell's comments made an interest rate cut look likely (with markets now betting there's an 84% chance). That's good news for trade-heavy economies like Australia.
Corporate updates added extra momentum: Ansell shares soared after upbeat earnings and a $200 million buyback announcement; Santos rose despite weaker profits; Reece took a hit after disappointing results.