ASX Lifted by Record Copper Prices as Rate Hike Looms

The Australian stock market edged up by 0.2% as big miners rose on record copper prices, despite traders leaning towards another Reserve Bank of Australia rate hike in late September.

Copper hit an all-time high, sending BHP Group's share price up 2.7% and Rio Tinto's up 2.1%, while Fortescue Metals also gained ground.

The resources sub-index, which accounts for over a quarter of the market by value, rose 0.9%. Energy stocks also climbed as oil prices remained firm.