Closing Bell: Softer inflation, lower yields, biscuits all round (except for tech) | Stockhead

The ASX climbed 0.92% on Wednesday after inflation data came in softer than markets had feared, easing expectations of an RBA rate hike. Headline CPI rose 4.0% year-on-year to August, up from 3.5% in July, while “trimmed mean” inflation held at 3.6%. The benchmark index surged more than 1% mid-afternoon, led by property and consumer stocks as traders scaled back near-term tightening bets. Bond yields fell and the Australian dollar eased. Capital Economics said the RBA’s hiking cycle is likely over, while RBC warned underlying inflation remains “still worrying.” The ASX 200 closed at 8,789.3; tech was the only sector down, off 0.41%.