04.08.202600:52:34UTC+00Australia Stocks Rise for Third Session

Australian shares extended their winning streak on Tuesday, with the benchmark index rising 42 points, or 0.5%, to 9,061 in early trade, marking a third consecutive session of gains. The advance followed Wall Street’s overnight rally, as easing US–Iran tensions pushed oil prices and US Treasury yields lower. Domestically, stronger July factory activity and solid June private credit data further buoyed sentiment.

Nonetheless, investors remained cautious ahead of trade figures due later this week from both Australia and its largest trading partner, China. Gains were broad-based across sectors, led by technology, financials, healthcare, and process industries.

Qantas added 0.3% after agreeing to sell its minority stake in Jetstar Japan, a move expected to release about AUD 115 million for reinvestment. The four major banks climbed between 0.7% and 1.4%. Among other notable movers, Xero Ltd. advanced 3.0%, Pro Medicus rose 1.5%, and Lynas Rare Earths gained 1.4%.

Attention now turns to June household spending data due later today, a key gauge of domestic demand that could influence market sentiment.