Australian shares hovered near 8,910 on Wednesday morning after falling sharply to a six-week low on Tuesday. Bargain hunting in non-energy minerals, energy stocks and technology shares helped counter weakness in healthcare, commercial services and financials. Sentiment remained fragile as oil prices surged and global inflation concerns intensified. Local business confidence fell to a three-month low in August, while consumer sentiment declined in September. U.S. futures weakened after overnight losses on Wall Street, driven by rising Middle East tensions following attacks on Saudi energy facilities. China reported robust exports and imports in August, with its trade surplus exceeding USD 800 billion so far this year. BHP rose 2.2%, Woodside Energy gained 2.3% and Santos advanced 1.4%, while three of the four major banks fell between 0.1% and 1%. Traders are awaiting China's CPI (consumer inflation gauge) and PPI (producer-price measure) data later Wednesday.