Index Update: The S&P/ASX 200 closed higher on Wednesday, rising 69.50 points or 0.81% to finish at 8,606.50, led by broad-based gains. The benchmark index has added 1.88% over the past five trading days and is up 5.48% year to date. Eight of the 11 sectors finished in positive territory, with Materials being the standout performer, climbing 1.84% for the day and 3.06% over the past five sessions.
Macro Update: The bond traders have largely abandoned expectations for another interest rate cut from the Reserve Bank of Australia following the release of inflation data for October. According to the Australian Bureau of Statistics (ABS), the Consumer Price Index (CPI) increased by 3.8% over the 12 months to October 2025. This data introduces monthly CPI as Australia’s new primary inflation measure, replacing the quarterly CPI. The Monthly CPI data series dates back to April 2024, reflecting more frequent collection of price data across various expenditure categories.
The 3.8% annual increase in October edged up from 3.6% in September. Housing was the largest contributor, rising 5.9% year-on-year. Food and non-alcoholic beverages, along with Recreation and culture, also increased by 3.2%.
Top Market Movers: National Storage REIT (ASX:NSR) led the gainers, rising 19.47% to AUD 2.700. Mesoblast Limited (ASX:MSB) followed with a 14.29% gain to AUD 2.720, while DroneShield Limited (ASX:DRO) advanced 8.50% to AUD 2.170. On the downside, Temple & Webster Group Limited (ASX:TPW) dropped sharply by 32.34% to AUD 13.830. West African Resources Limited (ASX:WAF) declined 9.54% to AUD 2.750 and Greatland Resources Limited (ASX:GGP) eased 5.49% to AUD 7.410.
Commodity Update: The dollar slipped on Wednesday after softer U.S. data strengthened expectations of a December rate cut and as markets bet the next Fed chair could lean more dovish. Precious metals gained, with gold up 0.83% at USD 4,199.50 and silver rising 1.12% to USD 51.64, while copper edged up 0.17%. Brent crude rose 0.19% to USD 62.67 after touching one-month lows amid progress in Ukraine–Russia peace talks.
In its latest session, the S&P/ASX 200 Index rose 69.50 points to finish at 8,606.50, supported by a modest bullish candlestick and strong trading volumes both indicators of sustained investor confidence. On the daily chart, the index continues to trade below its 21-period Simple Moving Average (SMA), which remains a key zone of dynamic resistance. Immediate support is situated near 8,530, and holding above this level will be crucial for preserving the current bullish structure. A successful defense of this zone would help the index consolidate recent gains and strengthen confidence in the broader upward trend. From a weekly perspective, the index remains comfortably above its 50-period SMA, reinforcing a constructive longer-term outlook. Overall, the technical setup suggests the potential for continued upside momentum, provided near-term support levels hold firm.







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