SYDNEY — Australian shares pushed to a fresh all-time high Wednesday, with the S&P/ASX 200 climbing 70.9 points, or 0.78%, to 9,216.7 by 3:15 p.m. AEST, extending a rally that has now stretched across three consecutive sessions and pushed the benchmark firmly past its previous record.

The advance builds directly on Tuesday's strong session, when the index surged 126.5 points, or 1.40%, to close at 9,145.80, its highest closing level since early March and just short of the intraday all-time high of 9,202.90 set in late February. Wednesday's move pushed the index decisively above that prior peak, confirming a new record for Australian equities.

A rally fueled by Wall Street and easing Iran tensions

Much of the momentum behind this week's gains has come from offshore. U.S. stocks closed at fresh record highs overnight, with the S&P 500 and Nasdaq both extending their own rallies amid growing optimism that the United States and Iran could reach a deal to reopen the Strait of Hormuz, a critical global oil shipping corridor. That optimism has helped ease the risk-off sentiment that had weighed on markets in the weeks following renewed U.S.-Iran tensions earlier this year.

IG market analyst Tony Sycamore attributed the local rally to a combination of factors, describing it as reflecting a solid night on Wall Street, cleaner positioning following last week's technology sector selloff, and softer Middle East headlines after President Donald Trump paused planned........

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