04.08.202607:00:21UTC+00Broad-Based Rally Lifts ASX 200 to Five-Month High

The ASX 200 extended its winning streak to a third consecutive session on Tuesday, advancing 127 points, or 1.4%, to finish at 9,149 — its highest close since early March. Sentiment improved on the back of stronger U.S. stock futures after Wall Street’s rally on Monday, with easing crude oil prices further supporting risk appetite.

On the domestic front, personal spending rose 0.8% m/m in June, well above the consensus forecast of 0.2%. However, gains were tempered by investor caution ahead of key trade data due later this week from both Australia and its largest trading partner, China.

Buying was broad-based, led by technology, logistics, and healthcare stocks. The big four banks climbed between 1.7% and 2.7% after Morgan Stanley said the sector was positioned to deliver strong earnings. Charter Hall Infrastructure REIT surged 8.6% after reporting a 12.6% increase in annual operating earnings. Tech names tracked their U.S. counterparts higher, with Xero up 3.5%, Technology One rising 3.3%, and WiseTech Global gaining 3.0%.