Boosted by the easing of concerns about the US-Iran conflict and favorable domestic economic signals, the Australian stock market benchmark index hit a record high in the intraday period. The S&P/ Australian Securities 200 Index once rose 0.7% to 9,213.00 points, surpassing the previous high set in early March. In Wednesday's trading, the materials sector contributed the most, with BHP Billiton Group and Rio Tinto Group rising. The defensive appeal of the Australian stock market is back in popularity, driving it to rebound over the past two months. Although the turmoil in artificial intelligence AI trading led to a sharp decline in the Asia-Pacific stock market, the Australian stock market lacked exposure to volatile chip makers, so it became a safe haven. Market optimism about a possible temporary agreement between Washington and Tehran has allayed concerns about energy supply. The US stock market closed at an all-time high on Tuesday.

Boosted by the easing of concerns about the US-Iran conflict and favorable domestic economic signals, the Australian stock market benchmark index hit a record high in the intraday period. The S&P/ Australian Securities 200 Index once rose 0.7% to 9,213.00 points, surpassing the previous high set in early March. In Wednesday's trading, the materials sector contributed the most, with BHP Billiton Group and Rio Tinto Group rising. The defensive appeal of the Australian stock market is back in popularity, driving it to rebound over the past two months. Although the turmoil in artificial intelligence AI trading led to a sharp decline in the Asia-Pacific stock market, the Australian stock market lacked exposure to volatile chip makers, so it became a safe haven. Market optimism about a possible temporary agreement between Washington and Tehran has allayed concerns about energy supply. The US stock market closed at an all-time high on Tuesday.