Australia's share market has overcome a shaky start for a second straight session, after renewed hope in the artificial intelligence trade buoyed copper miners.
The S&P/ASX200 gained 40.2 points on Tuesday, up 0.46 per cent, to 8850.1, as the broader All Ordinaries rose 42.2 points, or 0.47 per cent, to 8968.8.
Mega miners BHP and Rio Tinto offered major support, rallying after copper prices lifted on Anthropic's initial public offering listing, which would value the AI trailblazer at $US1.5 trillion ($A2.1 trillion).
The IPO helped reinject a little bit of recently absent AI hype, Capital.com senior market analyst Kyle Rodda said.
"The areas of Asia that have performed well were tech-sensitive names, and then in the local market some of those AI supply chain trades, namely the big miners," Mr Rodda told AAP.
The local tech sector largely missed out on the exuberance, up only 0.4 per cent, while local data centre player NextDC clawed back almost four per cent after project delays wiped 40 per cent off the company's value last week.
There could be further market volatility ahead, as traders brace for more US earnings, multiple central bank decisions, a local inflation print ahead of the US mid-term elections early next week.
"I think it's still going to be a pretty bumpy ride through that period as as investors digest all that information," Mr Rodda said.
Adding to broader market confidence, oil prices continued to ease from their pre-weekend peak on hopes the US and Iran could yet find a diplomatic solution to a conflict that has roiled global energy markets.
Woodside, Santos and refinery operators Ampol and Viva still traded higher, but uranium producers topped the energy sector as they tracked with the uplift in minerals stocks.
The heavyweight financials sector eased 0.6 per cent as the major banks ran into a second day of profit-taking, with NAB leading the big four lower.
Consumer discretionaries also lost ground ahead of Wednesday's crucial September inflation print.
The price growth data will likely decide whether the Reserve Bank will hike the official cash rate next week, or if it has more time to measure the impacts of its four increases so far this year.
In company news, Star Entertainment shares soared 13 per cent after reporting a strong rebound in earnings, however a massive fine over anti-money laundering obligation breaches still looms over the casino group.
Woodside will sell its roughly one-third stake in the Greater Sunrise gas project in East Timor to the state-owned Timor Gap for up to $US200 million ($A284.8 million).
The Australian dollar is buying 70.22 US cents, down from 70.27 US cents on Monday at 5pm.
ON THE ASX:
* The S&P/ASX200 rose 40.2 points, or 0.46 per cent, to 8850.1
* The broader All Ordinaries advanced 42.2 points, or 0.47 per cent, to 8968.8
One Australian dollar trades for:
* 70.22 US cents, from 70.27 US cents on Monday at 5pm AEDT
* 110.75 Japanese yen, from 110.39 Japanese yen
* 62.89 euro cents, from 62.65 euro cents
* 52.67 British pence, from 52.54 pence
* 123.34 NZ cents, from 123.28 NZ cents
