Australian stocks surged to a record high on Thursday, defying the broader uncertainty across Asia-Pacific markets. The S&P/ASX 200 climbed past the 7,900 mark, powered by gains in mining, energy, and financial sectors. Investors reacted positively to recent economic data showing slowing inflation, which has increased expectations of a potential rate cut by the Reserve Bank of Australia later this year.
Leading the rally were shares of BHP, Rio Tinto, and Commonwealth Bank, reflecting optimism around commodity prices and stable earnings forecasts. Meanwhile, regional peers saw more muted performance. Japan’s Nikkei slipped slightly, and Hong Kong’s Hang Seng Index remained flat as investors awaited fresh cues from China’s central bank.
The contrast highlights Australia’s relative strength amid global economic uncertainty. With inflation cooling and job data weakening, markets are betting on a shift in monetary policy that could further fuel investor sentiment in the months ahead.
