The indicator board at the ASX in Sydney. Picture: Dan Himbrechts/AAP
The indicator board at the ASX in Sydney. Picture: Dan Himbrechts/AAP

ASX smashes to new record high

THE Australian share market has opened higher, with almost every sector joining an early rally as the ASX200 broke through its intraday all-time high set in November 2007.

The benchmark S&P/ASX200 index was up 49.3 points, or 0.72 per cent, to 6,875.1 points at 1030 AEST on Tuesday, while the broader All Ordinaries was up 47.2 points, or 0.68 per cent, to 6,958.6 points.

The ASX200 passed its pre-global financial crisis November 1, 2007 high of 6851.5 points at 1009 AEST on Tuesday.

Telecommunications and utilities shares were the highest early climbers, adding 1.84 per cent and 1.45 per cent, respectively.

Telstra was up 1.79 per cent to $3.97 while TPG was up 5.04 per cent to $7.195. Healthcare shares also advanced more than one per cent after the first half-hour of trading.

Pharma giant CSL was up 1.06 per cent to $231.28 and medical supplier ResMed was up 1.47 per cent to $19.015.

The tech sector - the only segment of the ASX in negative territory - dipped 0.11 per cent.

Mining giant BHP was up 0.97 per cent to $40.995, Rio Tinto was up 0.45 per cent to $99.22 and Fortescue Metals was up 1.10 per cent to $8.24.

The big four banks all advanced, with ANZ up 0.61 per cent to $28.02, Commonwealth up 0.38 per cent to $83.57, NAB up 0.63 per cent to $28.76 and Westpac up 0.84 per cent to $28.95.

It follows a mixed session on Wall Street overnight, with the Dow Jones Industrial Average finishing up 0.11 per cent, the S&P 500 down 0.16 per cent and the tech-heavy Nasdaq Composite down 0.44 per cent.

The Australian Bureau of Statistics will publish data on building approvals for June at 1130 AEST on Tuesday.

The Aussie dollar is buying 69.04 US cents, from 69.08 US cents on Monday.