Australian shares soared to new heights, driven by a banking sector rally despite valuation concerns and high interest rates. The S&P/ASX 200 reached a record 8,477.10, closing at 8,444.30, a 0.5% gain. Strong consumer demand and mortgage appetite fueled the banking surge, while healthcare stocks also contributed to the benchmark's rise. New Zealand's S&P/NZX 50 index, however, fell 1.2%.
