Australia shares hit record high again on boost from banks
The S&P/ASX 200 index hit an all-time high of 8,477.10 earlier, its third this month and second this week. It ended the day with a 0.5% increase to 8,444.30.
The benchmark has added around 3.5% so far in November, the most in any month since July.
Banking stocks have risen more than 12% since early October despite some concerns over valuations, particularly Commonwealth Bank of Australia, the country's biggest bank.
Consumers' resilience, reflected in the appetite for mortgages to build new homes in the third quarter, is a «testament to bank stocks hitting new record all-time highs,» said Jessica Amir, a market analyst at trading platform moomoo.
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