Australia ASX 200 Hits Record High as Local Stocks Rally

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Australia’s share market reached a record milestone on Thursday, with the ASX 200 surpassing 9,000 points for the first time despite weakness on Wall Street.

The ASX 200 gained more than 1% in midday trade, driven by broad-based sector gains, as it crossed the 9,000-point milestone for the first time. The rally came even as the Nasdaq and S&P 500 slipped overnight, with investors rotating out of technology stocks into less highly valued industries.

Corporate Earnings Drive Momentum

Several high-profile profit announcements boosted market sentiment. Super Retail Group, the owner of BCF, Supercheap Auto, Rebel, and Macpac, reported record annual sales of approximately A$4.1 billion (up 4.5% year-on-year) while net profit fell by about 8% to A$222 million. Earnings were affected by margin pressures. Shares climbed nearly 14% to a record high.

Property giant Goodman Group also posted a turnaround, swinging to a statutory profit of $1.67 billion from a loss of $98.9 million a year earlier. Operating profit rose 13% to $2.31 billion, and the company declared a 30-cent dividend per share. Analysts noted Goodman’s growing focus on data centres as it pivots toward digital infrastructure to meet surging demand from artificial intelligence and cloud computing.

Regulatory Watch

The Australian Prudential Regulation Authority (APRA) cautioned that global uncertainty and falling interest rates could introduce new financial risks. Chair John Lonsdale said the regulator was closely monitoring mortgage arrears and warned that lower rates historically lead to higher leverage and riskier lending.

Separately, APRA expressed concern over superannuation fund outsourcing after members of HESTA experienced extended service outages during a platform transition. Lonsdale said trustees must ensure decisions are in the best interests of members.

Consumer Concerns

Meanwhile, consumer group Super Consumers Australia called for urgent action against predatory superannuation switching schemes, warning that thousands of Australians risk losing more than $1 billion in retirement savings. It urged regulators and the federal government to introduce stronger protections and penalties against misleading practices.

Market Outlook

Despite global market volatility, Australia’s equities remain resilient. Analysts point to solid corporate earnings, strong demand for digital infrastructure, and relatively low mortgage arrears as signs of underlying stability. However, regulators and market watchers caution that investor optimism may need to be tempered as risks remain elevated.