By Reuters
Australian shares tracked Wall Street higher on Thursday with banks and miners leading the gain, while US President Donald Trump announced tariffs on seven countries after earlier this week imposing 25% tariffs on Japan and other trade partners.
The S&P/ASX 200 index rose 0.6% to 8,587.70 by 0038 GMT.
The benchmark ended 0.6% lower on Wednesday. Wall Street ended higher overnight, lifted by the tech-heavy Nasdaq as Nvidia briefly touched a $4 trillion valuation.
鈥淭he market is taking lead from Wall Street鈥檚 rebound overnight where investors are shrugging off the tariff volatility to buy into growth and undervalued sectors of the market,鈥 said Grady Wulff, a senior market analyst at Bell Direct.
Meanwhile, minutes of the Federal Reserve鈥檚 mid-June meeting fuelled hopes that inflation pressures from Trump鈥檚 tariffs would not derail interest rate cuts this year.
Trump said on social media that more tariff letters to other countries would drop later on Wednesday, but gave no details. Australia faces