The Australian sharemarket posted its strongest single-day gain since March 2020 on Thursday, buoyed by a powerful rally on Wall Street overnight after United States President Donald Trump announced a 90-day pause on reciprocal tariffs for more than 75 countries.
The benchmark S&P/ASX 200 index jumped 334.6 points, or 4.5%, to close at 7,709.6, with all 11 sectors finishing higher.
Technology stocks led the charge, climbing 7.6% as Block poped 13.3%, Appen surged 11.5%, Xero gained 6.2%, and Wisetech Global added 8%.
Materials advanced 6.3%, driven by strong performances from mining giants BHP, up 5.4%, Rio Tinto, gaining 6.4%, Fortescue Metals, up 6.2%, and Champion Iron, up 10.9%.
Energy added 5.2%, supported by surging oil prices overnight, with Santos, Woodside, Beach Energy, and Viva Energy all gaining between 4.1% and 4.8%.
Gold miners also rallied strongly, with the ASX All Ordinaries Gold Index soaring 6.2% to a fresh record high, as persistent tensions between the US and China spurred a flight to safety among investors.
Westgold Resources gained 5.6%, Gold Road added Resources 2.7%, and Northern Star Resources lifted 5.1% to fresh record highs.
Among individual companies, Netwealth Group jumped 16.6% after reporting a 29% year-on-year increase in funds under advice (FUA) to $104.1 billion. The company said it remains on track for a record year, bolstered by $3.5 billion in net inflows, partially offset by $1 billion in negative market movements.
On the bond markets, 10-year yields fell 1.4% to 4.292%, and 2-year yields gained 1% to 3.314%.
