The local share market has closed modestly higher, but ended September with its worst losses in a year.
The benchmark S&P/ASX200 index on Friday finished up 23.8 points, or 0.34 per cent, to 7,048.6, while the broader All Ordinaries rose 27.2 points, or 0.38 per cent, to 7,249.7.
The ASX200 finished the week down 0.3 per cent and ended September down 3.5 per cent, its worst month since a 7.3 per cent fall in September 2022.
"September lived up to its reputation as being a bad month for shares," said AMP chief economist Shane Oliver.
It also finished the third quarter down 2.15 per cent, its worst quarter since a 12.4 per cent drop in the second quarter of last year.
Dr Oliver said equities have been pressured by rising bond yields, on the back of central bank warnings of interest rates being higher for longer.
The risk of recession also remains high - a danger to which rising oil prices are contributing - and there's uncertainty about the Chinese economy, he noted.
With US politicians at a stalemate, it also looks increasingly likely that the US government will partially shut down on Sunday due to a lack of funding, which could add to share market volatility, Dr Oliver added.
Among other things, a shutdown would pause the economic data releases that are so influential on markets because of their impact on Federal Reserve policy.
The ASX's 11 sectors finished mixed on Friday with seven up and four down, as US bond yields retreated a bit from their 16-year highs thanks to a sharp fall in German inflation and weaker-than-expected US consumer spending data.
Mining was the biggest mover, climbing 1.2 per cent as BHP rose 1.2 per cent to $44.25, while Rio Tinto added 1.0 per cent to $113.55 and Fortescue gained 1.3 per cent to $20.92.
The energy sector was slightly lower as Brent crude retreated from a 10-month high reached earlier in the week, falling $US2 to $95 a barrel.
Woodside and Santos both dropped 0.6 per cent, to $36.49 and $7.90 respectively, while Whitehaven Coal fell 3.3 per cent to $7.11.
Uranium stocks continued their bull run, however, with Deep Yellow up 1.9 per cent to a nearly two-year closing high of $1.315, Boss Energy advancing 3.0 per cent to a six-month high of $4.85 and Paladin Energy climbing 1.9 per cent to a decade-high of $1.10.
The Big Four banks were mostly higher, with ANZ and NAB both up 0.7 per cent, to $25.66 and $29.07 respectively. Westpac inched 0.1 per cent higher at $21.15, while CBA was basically flat at $99.97.
Back in the mining sector, Core Lithium had soared 19.1 per cent to a one-month high of 40.5c after announcing its first full-year profit as a lithium producer.
Core Lithium posted a net profit after tax of $10.8 million on revenue of $50.6 million, following its Finniss mine near Darwin going into production in October 2022.
The Australian dollar meanwhile was at a one-week high against its US counterpart, which weakened overnight.
The Aussie was buying 64.57 US cents, from 63.72 US cents at Thursday's ASX close.
The Australian dollar was at a 10-day high against its US counterpart and had strengthened against most other major currencies aside from the Kiwi.
The Aussie was buying 64.67 US cents, from 63.72 US cents at Thursday's ASX close.
Looking forward, the Reserve Bank is almost universally expected to leave rates on hold at its meeting on Tuesday.
ON THE ASX:
* The S&P/ASX200 index finished Friday up 23.8 points, or 0.34 per cent, to 7,048.6.
* The All Ordinaries gained 27.2 points, or 0.38 per cent, to 7,249.7.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 64.64 US cents, from 63.72 US cents at Wednesday's ASX close
* 97.41 Japanese yen, from 95.12 Japanese yen
* 61.06 Euro cents, from 60.64 Euro cents
* 52.85 British pence, from 52.48 British pence
* 107.56 NZ cents, from 107.27 NZ cents
