Australian shares rose for a fourth straight session, driven by the consumer discretionary sector as traders anticipate improved market sentiment in the new year. The S&P/ASX 200 Index gained 0.3%, boosted by consumer confidence, technology stocks, and domestically oriented sectors like healthcare. The Australian dollar also strengthened overnight.
Australian shares rose for a fourth consecutive session on Tuesday, boosted by the consumer discretionary sector as traders bet on improved sentiment in the new year. The S&P/ ASX 200 Index opened 0.3 per cent higher, up 26.3 points to 8283.70. The All Ordinaries lifted 0.3 per cent. Nine of 11 sectors opened higher while industrial and utilities stocks fell.
Conglomerate Wesfarmers also pushed the index higher, up 0.4 per cent. Biotech CSL rose 0.8 per cent. Meanwhile, Bitcoin surged back above $US102,000. The currency has rallied in recent days amid a sell-off in US equities. News that Mike Johnson, an ally of President-elect Donald Trump, retained his position as speaker in the US House of Representatives also delivered a boost, in what was a positive sign for Trump’s pro-cryptocurrency agenda.
Australian Stocks ASX 200 Consumer Confidence Market Sentiment Cryptocurrency
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