SYDNEY — The S&P/ASX 200 Index rose 0.83% to 8,796.7 points in afternoon trading Wednesday, extending recent gains as strong performances from mining heavyweights and technology-related shares outweighed mixed economic data and sector-specific pressures.

The benchmark Australian index climbed 72.3 points by 2:06 p.m. AEST, with broad participation across materials and information technology sectors. The advance followed positive cues from Wall Street overnight, where semiconductor and technology stocks helped push major U.S. indices higher amid ongoing enthusiasm for artificial intelligence infrastructure spending.

Mining Sector Leads Advance

Resources stocks provided significant support, led by BHP Group which reset record highs amid resilient iron ore prices and positive sentiment around global commodity demand. Fellow miner Rio Tinto and other materials names also contributed, benefiting from expectations of steady Chinese industrial activity despite earlier concerns over economic softening.

Northern Star Resources stood out with sharp gains after activist investor Elliott Management disclosed a substantial stake and called for a strategic review, highlighting potential value unlock opportunities in the gold sector. The move underscored continued investor interest in resource companies offering operational leverage to metal prices.

Technology and Growth Stocks Gain Traction

Technology shares joined the rally, tracking overnight strength in global chipmakers and AI-related firms. Local players with exposure to cloud computing, data centers and digital infrastructure saw buying interest as........

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