ASX 200 rises 0.3% to 8,709 as investors await key data

  • ASX 200 gained as consumer durables, technology and manufacturing stocks advanced.
  • 4.6% cash rate marked a 15-year high after the RBA’s fourth hike this year.
  • Household spending was flat in August after three consecutive months of growth.

The ASX 200 rose 30 points, or 0.3%, to 8,709 on Tuesday, extending gains as consumer durables, technology and manufacturing stocks strengthened. Sentiment was supported by the Reserve Bank of Australia’s assurance that monetary policy remains positioned to respond to economic developments, while its board reaffirmed the goals of price stability and full employment. The central bank raised its cash rate to a 15-year high of 4.6% at its September meeting, its fourth increase this year, as expected. Traders are awaiting August inflation, trade and private-sector credit data, along with September purchasing managers' index (PMI) readings from China, Australia’s top trading partner. Household spending was flat in August after three consecutive months of growth. BHP Group and Rio Tinto advanced, as did South32 and Wisetech Global, while the big four banks, Woodside and Santos Ltd. declined.

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