The ASX 200 closed Friday with a solid gain, rising 90 points or 1.0% to hit 8,807. This marked a near five-week high and snapped two days of declines, as stronger U.S. stock futures boosted sentiment. Traders shifted focus from major tech names to broader sectors, while softer-than-expected Australian labor data eased pressure on the Reserve Bank to raise rates soon.
Gains were widespread, with tech, healthcare, manufacturing, and commercial services leading the charge. BHP Group stood out with a 3.5% jump after avoiding a strike at its Escondida copper mine in Chile. Gold miners also performed well, with Northern Star Resources up 3.3% and Evolution Mining rising 3.0%. Other notable movers included South32 (3.6%), REA Group (3.1%), and CSL (2.8%).
The ASX 200 posted a 1% weekly gain, marking its third straight week of increases. However, caution lingered ahead of upcoming Chinese economic data, including September activity figures and Q3 GDP numbers due next week.