16.09.202606:39:34UTC+00ASX 200 Up 0.3% at Finish

The ASX 200 rose 24 points, or 0.3%, to finish at 8,697 on Wednesday, erasing the previous session’s losses as gains in consumer durables, energy minerals, and non-energy minerals underpinned sentiment. Stronger U.S. equity futures ahead of the Federal Reserve’s policy decision also lent support, while traders kept a close watch on elevated oil prices and ongoing geopolitical tensions.

Buying interest emerged after the local market recently fell to a near ten-week low, pressured by persistently high inflation and growing expectations of another Reserve Bank rate hike later this month. In China, Australia’s largest trading partner, August data delivered mixed signals, reinforcing hopes for additional stimulus measures from Beijing.

Among heavyweight miners, BHP Group climbed 1.3% and Rio Tinto added 0.8%. Energy stocks outperformed, with Woodside Energy up 2.9%, Santos advancing 2.3%, and Ampol gaining 2.6%. The big four banks were mixed: NAB and Commonwealth Bank edged lower, while Westpac and ANZ were little changed. Investors now look ahead to Governor Bullock’s testimony before Parliament on Friday for further guidance on the policy outlook.