Australian stocks rebounded strongly, led by banks and miners, as improved U.S.-Iran relations lifted global risk sentiment. The benchmark index climbed to its highest close in months. Financial shares gained momentum after the Reserve Bank of Australia’s rate hike, while miners rose on firmer metal prices and signs of revived Chinese demand.
Australian shares snapped an eight-session losing streak, rising for the first time this week as miners spearheaded a broad rebound. The mood improved after an overnight pullback in oil prices, which nudged investors to cautiously rebuild positions. Market sentiment appears to hinge on energy prices, with gains led by commodity-linked names rather than a narrow sector rally.
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