# Australian shares rally, but building approvals plunge amid higher interest rates — as it happened - ABC News

> Australian shares rose on Wednesday while building approvals fell again and mortgage stress increased. US stocks mostly rose ahead of a Federal Reserve decision, and Brent crude traded near $92 a barrel.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/33884-australian-shares-rally-but-building-approvals-plunge-amid-higher-interest
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Rising mortgage stress and higher rates weigh on domestic demand, with little direct effect on feed commodities; Brent near $92 is a modest energy-cost backdrop.

## Sources

- abc.net.au: https://www.abc.net.au/news/2023-11-01/asx-markets-business-live-november-1-2023/103047548

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.