The Australian sharemarket rose on Wednesday, supported by gains in the mining sector as China’s response to United States tariffs eased concerns over trade tensions.
The S&P/ASX 200 closed 42.90 points, or 0.5%, higher at 8,416.9, with eight of the 11 sectors finishing in positive territory.
Materials and technology stocks led the rally, gaining 1.7% and 1.6%, respectively.
Investor sentiment improved after Beijing's retaliatory tariffs on U.S. goods on Tuesday, including a 15% duty on coal and liquefied natural gas and a 10% levy on oil.
Mining giants Rio Tinto, BHP, and Fortescue Metals advanced 2.1%, 1.5% and 2%, respectively, while Champion Iron climbed 3%.
Coal producers also benefited, with Coronado Global Resources rising 1.5%, and Whitehaven Coal up 2.5%.
Among individual companies, Pinnacle Investment Management reached a record high of $27.11 per share following strong half-year results, with shares gaining 3.5%.
Amcor also rose 2.9% after meeting earnings expectations for the December quarter and maintaining its financial outlook for 2025.
In the bond market, the 10-year and 2-year Australian government bond yields fell across the curve to 4.363% and 3.779%, respectively.
