26.02.202600:35:11UTC+00Australian Stocks Extend Record Rally

The S&P/ASX 200 rose 0.4% to trade above 9,100 in early Thursday dealings, extending its rally to a new record high as strength in local mining stocks and a strong, tech-led advance on Wall Street buoyed sentiment.

Domestic software names led the gains, climbing nearly 4.5% after upbeat earnings from US tech heavyweights Nvidia and Oracle reinforced optimism around the AI theme. Logistics software provider WiseTech Global extended its recent rise, gaining more than 6% to a two-week high, while Xero and Technology One added 5.5% and 3.7%, respectively.

The heavyweight mining sector also advanced for a fourth consecutive session, rising 1.6% to a record high, supported by firm underlying commodity prices. Lynas Rare Earths jumped almost 5% after the world’s largest rare-earths producer reported its strongest first-half profit in three years.

In contrast, the rate-sensitive financial sub-index slipped 0.3%, as a hotter-than-expected inflation reading a day earlier strengthened expectations of further interest rate hikes later this year.