Australian shares rebounded on Thursday ahead of the release of key US inflation data for clues on the possible rate trajectory of the US Federal Reserve.
The S&P/ASX 200 Index rose 38.30 points, or 0.5%, to 7,698.70.
On the domestic front, Australian retail turnover rose 1.1% to AU$35.72 billion in January from the previous month. The rebound followed the sharp 2.1% fall in December 2023, “when consumers pulled back on spending after taking advantage of Black Friday sales in November 2023,” said Ben Dorber, head of retail statistics at the Australian Bureau of Statistics.
The country’s total credit went up 0.4% month over month in January, the same rate as the previous month. Business credit saw the biggest rise at 0.7%. Housing and personal credit rose 0.4% and 0.2%, respectively.
Australia’s private new capital expenditure rose 0.8% in the fourth quarter of 2023 from the linked quarter and 7.9% from Q3 2023. Capex for electricity, gas, water, and waste services saw the largest rise among the industries at 14.7%, supported by the increased investment in renewable energy infrastructure.
In earnings news, Harvey Norman Holdings HVN reported that its earnings per share in the six months ended Dec. 31, 2023, fell to AU$0.1602, compared with the prior-year period’s AU$0.2932. Shares of the furniture retailer closed more than 40% higher Thursday.
Toll road operator Atlas Arteria Group 
ALX reported that its earnings per share in the full fiscal year ended Dec. 31, 2023, fell to AU$0.223, compared with the prior year’s AU$0.246. Shares of the toll road operator slumped 1%.
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