By Oliver Gray
Investing.com - The S&P/ASX 200 added 50.2 points or 0.7% to 7,360.1 during after the first 45 minutes of Wednesday's trade, extending 5-week highs as investors proved optimistic amid easing inflation pressures and a pause from RBA policymakers last week.
ASX 200 Futures were pointing 0.3% higher.
Among stocks, materials led the gains, up 1.8% collectively as Rio Tinto Ltd (ASX:RIO) added 2.5%, BHP Group Ltd (ASX:BHP) lifted 2.3%, Fortescue Metals Group Ltd (ASX:FMG) gained 1.9% and Champion Iron Ltd (ASX:CIA) added 6.8%.
Information technology also partially retraced last week's declines as Block Inc (ASX:SQ2) dipped 0.4%, Novonix Ltd (ASX:NVX) gained 0.5%, Appen Ltd (ASX:APX) added 1.2% and Megaport Ltd (ASX:MP1) popped 4.7%.
Real estate companies added 0.6% overall with Goodman Group (ASX:GMG) up 0.8%, Charter Hall Group (ASX:CHC) gaining 2.2% and Mirvac Group (ASX:MGR) adding 0.5%.
Ahead in the session, investors will be monitoring a speech from RBA Assistant Governor Bullock as well as fresh private housing approvals data.
On the bond markets, Australia 10-Year rates were at 3.25%.
In New Zealand, the NZX 50 added 0.3% to 11,905.7.
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