ASX 200 hits record high as miners rally, Iran hopes lift market sentiment

Australia’s ASX 200 hit a record high as improving risk sentiment, stronger domestic consumption data, and expectations that the Reserve Bank of Australia will keep rates unchanged supported equities. The index rose about 0.5% to 9,166 after briefly topping 9,200 intraday, extending Tuesday’s 1.4% jump. Mining shares led gains as stronger U.S. manufacturing data lifted hopes for industrial metals demand; copper near record highs boosted names like Rio Tinto, Mineral Resources, Sandfire Resources and Capstone Copper. Broader sentiment also improved on easing Middle East tensions and record-setting U.S. markets. Energy stocks lagged as Brent oil weakened, pressuring Woodside, Beach Energy and Santos. The article suggests the market is being driven more by macro sentiment and commodity prices than company-specific news, with rate expectations and global geopolitics key to near-term direction.