Australian shares bounced after three days of losses, tracking Wall Street higher as the global bond market and oil prices steadied somewhat, even as fighting between the US and Iran continued.
The S&P/ASX 200 edged up 3 points, or 0.1 per cent, to 8981 in the opening minutes of trade on Thursday, with six out of the 11 sectors in the green, led by banks.
This came after the S&P 500 closed up 0.5 per cent overnight as investors chased bargains following three sessions of losses. Yet, investors remained cautious on developments in the Middle East, which have sent oil prices above $US95 a barrel, fanning inflation fears.
Meanwhile, the global bond market storm was showing signs of steadiness after a tumultuous week that sent them to multi-decade highs. Australia's bond yields eased 3 basis points in morning trade with the three-year at 4.77 per cent and the 10-year return at 5.17 per cent.
Markets are now pricing in a 65 per cent chance the Reserve Bank of Australia will lift the cash rate as soon as this month due to resurging inflation from the US-Iran conflict. There is also growing chance of a back-to-back increase.

Sumber : ASX