FX.co ★ ASX 200 Finishes Higher

On Wednesday, the S&P/ASX 200 advanced by 0.7%, closing at 8,737, building on gains from the previous session with notable support from mining and energy sectors. The market's positive mood was bolstered when US President Trump finalized a trade agreement with Japan, while US–China trade negotiations intensified as they approached the August 12 deadline. Domestically, recent figures indicated that the Westpac Leading Index decelerated to 0.03% in June, reflecting diminished momentum due to softer commodity prices and a reduction in work hours. Attention now turns to the upcoming PMI data, expected later today, which will provide further insights into July's business environment. In corporate developments, energy stocks extended their rally for the fifth consecutive session, highlighted by Woodside Energy climbing 1.6% to approach a 1-month high following robust second-quarter sales figures. Investors responded favorably to its mitigated risk scenario regarding the Louisiana LNG deal. Additionally, the mining sector rose by 1% to reach a 9-month peak, with companies such as BHP rising by 0.8%, Rio Tinto by 1%, and Fortescue by 2.3%, all reaching multi-month highs. This surge was underpinned by increasing demand for commodities after China revealed intentions to construct the world's largest hydropower dam.