19.10.202606:03:26UTC+00ASX 200 Rises Further, Ends at Over 5-Week High

Australia’s ASX 200 rose 39 points, or 0.4%, to finish at 8,846 on Monday, extending earlier gains and reaching its highest level in more than five weeks. Sentiment improved alongside stronger U.S. stock futures ahead of a busy stretch of earnings releases. At the same time, oil prices eased back from a five-month high, as traders weighed ongoing Middle East tensions against steady global supply.

In China, Australia’s largest trading partner, third-quarter GDP growth beat expectations, supported by policy easing and resilient exports. Domestically, RBA Assistant Governor Kent highlighted solid business credit growth but softer household demand, raising questions about whether policy settings are sufficiently restrictive following September’s rate hike.

Sector-wise, energy minerals, industrial services, and financials led the advance, while weakness in technology and commercial services limited overall gains. The big four banks climbed between 0.7% and 1.5%, and mining heavyweights BHP and Rio Tinto recovered from early declines. Among notable movers, Yancoal rose 5.7% and Nextdc gained 3.6%. Challenger jumped 19.3% after reports that TAL Dai-ichi Life had submitted a non-binding takeover proposal at AUD 11.80 per share.