The S&P/ASX 200 index of the Australian stock market closed higher for a fourth straight day, gaining 43.80 points or 0.47 percent to end at 9,271.60 points. It was supported by stronger-than-expected trade data after the Australian Bureau of Statistics reported that in June, Australia posted a trade surplus of 1.93 billion Australian dollars, defying analyst forecasts of a 1.08 billion Australian dollar deficit. Exports surged 9.6 percent from the previous month, the biggest jump in four years, while imports fell 0.2 percent. The market also drew positive momentum from the prospect of a peace deal between the United States and Iran, which could end a five-month-long conflict and reopen the Strait of Hormuz to shipping. The All Ordinaries index closed at 9,452.00 points, up 46.60 points or 0.50 percent. Leading the gains were Evolution Mining, up 3.83 percent, Northern Star Resources, up 3.26 percent, and ASX, up 3.07 percent.
Iran peace hopes could reopen Strait of Hormuz, reducing geopolitical risk and supporting commodity prices, benefiting gold miner Evolution Mining.
Iran peace hopes could reopen Strait of Hormuz, reducing geopolitical risk and supporting commodity prices, benefiting gold miner Northern Star.
