The Australian share market has closed at an all-time high, boosted by strong gains from the mining sector, which enjoyed its best week in nearly nine years.
But there were losses elsewhere, including for the big banks, while embattled casino operator Star Entertainment plunged by more than 40 per cent after it resumed trading following a month-long suspension.
The benchmark S&P/ASX200 index ended Friday up 8.5 points, or 0.1 per cent, at an all-time closing high of 8,212.2, while the broader All Ordinaries gained 14 points, or 0.17 per cent, to 8,476.8
The ASX200 finished the month up 1.5 per cent and the September quarter up 5.7 per cent, its best quarter result since the fourth of 2023.
AMP chief economist Shane Oliver said that markets around the world had climbed again over the week on expectations of a continuation of a "goldilocks" macro outlook on the back of central bank rate cuts reinforced by news of Chinese policy stimulus.
Overnight commodity metals extended their gains following Beijing's announcement of those two aggressive stimulus measures, while gold and the S&P500 hit fresh all-time highs.
The ASX's mining sector rose 2.8 per cent on Friday and 9.4 per cent for the week, its best weekly performance since a 10.3 per cent gain in October 2015.
The mining/materials sub-index is still down 7.6 per cent for the year, compared to a 21.9 per cent rise for the financial sector, but there's evidence that traders are swapping out of the latter for the former.
BHP on Friday rose 3.2 per cent to $44.74, Fortescue gained 3.6 per cent to $20.10, Rio Tinto added 3.4 per cent to $20.10 and Mineral Resources surged 13.9 per cent to $49.14.
The heavyweight financial sector meanwhile finished 0.6 per cent lower, with all of the big four banks losing ground.
NAB fell 1.8 per cent to $36.94, Westpac retreated 1.7 per cent to $31.80, ANZ dropped 1.0 per cent to $30.44 and CBA slid 0.1 per cent to $134.16.
Elsewhere, Star Entertainment plunged 44.4 per cent to an all-time low of 25c as shares in the troubled casino company resumed trading a month after Star delayed filing its annual financial statement.
Star filed that report on Thursday, revealing that it had operated at a loss in July and August and had plans to borrow up to $200 million at a 13.5 per cent interest rate to meet a looming cash crunch.
Endeavour Group dropped 2.5 per cent to $4.99 as the Dan Murphy's and BWS owner announced that chief executive Steve Donohue would step down, once his successor had been found.
Coles fell 0.5 per cent to $18.12 while Woolworths added 0.2 per cent to $33.43 as the competition watchdog released a 266-page report that classified them as an "oligopoly".
A2 Milk shares rose 8.7 per cent to $6.24 before being put in a trading halt so the Kiwi milk company could announce an acquisition.
Woodside dropped 1.4 per cent and Santos fell 1.2 per cent as Brent crude retreated to $US71 a barrel amid rumours that Saudi Arabia was set to increase output.
Back in the mining sector, goldminer Evolution climbed 1.1 per cent but Newmont dropped 0.6 per cent even as the yellow metal hit an all-time high of $US2,684 an ounce overnight.
The Australian dollar was buying 68.86 US cents, from 68.67 US cents at Thursday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index finished Friday up 8.5 points, or 0.1 per cent, at 8,212.2
* The All Ordinaries gained 14 points, or 0.17 per cent, at 8,476.8.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 68.86 US cents, up from 68.67 US cents at Thursday's ASX close
* 98.65 Japanese yen, from 98.77 Japanese yen
* 61.76 euro cents, from 61.48 euro cents
* 51.43 British pence, from 51.35 pence
* 109.14 NZ cents, from 108.77 NZ cents
