Australia’s share market has topped 8800 points for the first time, as inflows into global miners and continued banking sector strength wiped investor worries about global growth.
The S&P/ASX200 hit a record intraday peak of 8,848.8 points before settling at its highest-ever close of 8,841, up 71 points, or 0.81 per cent for the day.
The broader All Ordinaries rose 78.3 points, or 0.87 per cent, also to a record-high close of 9,107.1, after hitting a peak of 9,115.4 during the session.
Materials, energy and consumer discretionary stocks led 10 of 11 local sectors higher, while interest rate-sensitive segments such as financials, real estate and IT stocks surged on expectations of cheaper incoming borrowing costs in Australia and the United States.
The Australian dollar is higher against most major currencies, buying 64.88 US cents, up from 64.60 US cents on Tuesday at 5pm.
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