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Market Close 25 Sep 24: Softer inflation fails to inspire Aussie stocks
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The ASX experienced volatility today, initially opening higher before declining by 0.25% as softer inflation data briefly boosted the market. Australia's headline inflation fell to 2.7%, a three-year low, but core inflation remains above the RBA's target. Mining stocks surged, driven by China's significant stimulus measures, with iron ore prices rising and BHP up 3.5%. The Australian dollar also hit a 69-cent high, influenced by China’s stimulus and the RBA's stance on interest rates.
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