Australian equities rose 29 points, or 0.3%, to 8,633 in Wednesday morning trade, snapping a three-session losing streak on strength in logistics, consumer services, and retail. Sentiment was supported by robust May trade data from top trading partner China, where exports hit a record, and imports accelerated. Locally, Australia's trade surplus shifted to a surplus in April as exports rebounded. Meanwhile, hopes grew that the Reserve Bank will pause cash rates next week after three hikes this year. However, gains were capped as U.S. stock futures slipped as tensions in the Middle East ramped up again following Washington’s “self-defense strikes” against Iran in response to a helicopter downing Tuesday. Early standouts included PLS Group (2.0%), Insurance Australia Group (1.9%), and Medibank Private (1.2%), while two of the big four banks posted modest gains. Investors now await China’s May CPI and PPI data later today, amid signs of growing inflationary pressures in recent months.