Microsoft drives Wall Street higher, Apple results ahead, ASX set to jump
The Australian sharemarket saw modest gains driven by a rebound in US technology stocks and strong performance in the mining sector. Meanwhile, HSBC announced it will exit the Australian retail banking market to focus on commercial and corporate clients.
Why it matters
The shift in banking strategy and the volatility in mining stocks reflect broader economic adjustments in the Australian financial landscape.
— 11:06am , first published July 31, 2026 — 5:16am
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Share A A A The Australian sharemarket closed slightly higher on Friday after a strong day for the mining sector, as shares in the region rallied following a powerful rebound on Wall Street.
The S&P/ASX 200 climbed 9.1 points, or 0.1 per cent, to 8976.80, with five of 11 industry sectors in positive territory, led by materials as mining stocks advanced. Shares were also stronger in the region, led by a 17 per cent in South Korea’s Kopsi index, tracking the rebound in US artificial intelligence-related stocks overnight.
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