The ASX 200 advanced 49 points, equating to a 0.6% increase, to reach 8,736 on Tuesday, registering its third consecutive advance. Gains in U.S. stock futures provided support, counteracting the impact of escalating Treasury yields, as investors positioned for the release of the September meeting minutes of the Fed.
Positive domestic market sentiment was underpinned by a fifth consecutive monthly increase in Australian job advertisements, indicating resilient labor demand notwithstanding prior Reserve Bank of Australia interest rate increases. Advances were moderated, however, by a second successive decline in consumer confidence, reflecting elevated fuel expenses and borrowing rates.
Commercial services, healthcare, and financial equities propelled the upward trajectory. BHP Group advanced by 1.5% and Rio Tinto increased 1.4%, as the major banking institutions registered gains ranging from 0.1% to 0.9%. Declines were seen in Codan, which decreased by 4.7%, Wisetech Global, down 2.9%, Nextdc, lower by 2.5% and Technology One, which retreated 1.9%. Market participants are now focused on the release of September industry data and the finalized August building permits.