Aussie shares crack fresh record high
The benchmark ASX200 jumped 59.9 points, or 0.7 per cent, to close at 8630.3, while the broader All Ordinaries index lifted 60 points, or 0.68 per cent, to finish at 8875.3.
The bourse's previous closing high was 8603 points, booked on July 4.
The gains were broadbased, with 10 of 11 industry sectors ending in the green.
Information Technology and Healthcare stocks led the charge, with the sectors advancing 2.16 per cent and 2.04 per cent, respectively.
Tech darling Wistech jumped 1.76 per cent to $112.65 a share, while Technology One rallied 2.64 per cent to $40.37 and Xero lifted 1.15 per cent to $174.56.
Healthcare giant CSL rose 3.75 per cent to $250.66 and Pro Medicus rallied 2.44 per cent to $324.74.
Financials also lifted the market, with bourse-heavyweight Commonwealth Bank adding 0.58 per cent to $179.76.
Westpac gained 0.69 per cent to $33.79 and ANZ rose 0.7 per cent to $30.29, but NAB slipped 0.13 per cent $39.61.
The materials sector edged down 0.28 per cent on the back of concerning June quarter growth figures out of China.
Year-on-year GDP growth hit 5.2 per cent, beating expectations of a 5.1 per cent rise. The benchmark ASX200 marked a fresh record closing high on July 15, 2025. Supplied Credit: News Corp Australia
'This was largely due to strong fiscal support and the front loading of production and exports to the US to beat tariffs,' IG markets analyst Tony Sycamore said.
'With these tailwinds set to abate in the second half of this year, Chinese GDP is expected to slow to 4.5 per cent.
'Furthermore, new home prices in 70 Chinese cities fell by 3.2 per cent year-on-year in June, marking the 24th consecutive month of contraction.
'Today's woeful Chinese housing data has direct implications for the Australian economy, given its influence on demand for key exports including iron ore.'
BHP lost 0.86 per cent to $39.39, Rio Tinto declined 1.31 per cent to $110.28 and Fortescue retreated 0.71 per cent to $16.78.
The local market followed modest gains on Wall St overnight on Monday, as investors prepared for the start of the Q2 earnings season in the world's largest economy.
The Dow Jones added 88 points, or 0.2 per cent, to close at 44,459, while the S and P 500 index edged up 0.14 per cent to 6268 and the tech-heavy Nasdaq gained 0.27 per cent to 20,640.
Investors and policymakers would look to key inflation data from the US on Tuesday night for further guidance, Mr Sycamore added.
'The forecast is for headline inflation to rise by 0.3 per cent month-on-month and for the annual rate to increase to 2.7 per cent,' he said. Bowen Coking Coal operates the Burton mine in central Queensland. Shares in the company tumbled 25 per cent in morning trade. Zoe Devenport Credit: News Corp Australia
'The core inflation rate is also expected to rise by 0.3 per cent month-on-month, which would push the annual core rate to 3 per cent, the highest since February.
'Unless the core reading comes in hotter than expected at say 3.2 per cent year-on-year or higher, markets are unlikely to react, given that both the Fed and the market have been anticipating inflation to rise this year due to tariffs.'
In corporate news, outdoor media company oOh!media lifted 1 per cent to $1.74 despite revealing its contract with the Auckland Transport Authority would not be renewed beyond September.
The contract represented 4 per cent of the company's reported revenue for the 2024 financial year.
'While oOh! is disappointed with this outcome, it has planned for this eventuality and is confident in maintaining a leading position in the New Zealand Out of Home market,' the company said.
Embattled central Queensland coal miner Bowen Coking Coal moved closer to collapse, announcing Indonesian contracting giant BUMA had demanded a $15m payment.
Shares in Bowen were voluntarily suspended from quotation just after midday after sinking 25 per cent in morning trade to 7.5c.
The top gainer on the ASX200 was Lifestyle Communities, which surged 7.7 per cent to $4.47.
The largest laggard was lithium miner Pilbara Minerals, slumping 4.55 per cent to $1.58.
The Aussie dollar gained 0.09 per cent to buy US65.5c at the closing bell.
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