Australian shares closed higher on Wednesday, despite losses continuing on Wall Street.

The S&P/ASX 200 Index rose 0.28%, or 24 points, to close at 8,696.50.

Brent crude oil futures ​traded around $108 per barrel.

Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.5%, 0.8%, and 0.6%, respectively.

On the domestic front, the six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index narrowed to negative 0.09% in August from negative 0.17% in July.

Housing resale profits in Australia retreated in the June quarter, with 95.4% of residential resales yielding a nominal profit, down from a 21-year high of 96.1% in March, according to a Cotality report.

In company news, James Hardie Industries (ASX:JHX) reaffirmed its fiscal 2027 guidance excluding Europe, with total net sales of AU$4.99 billion to AU$5.13 billion. The company also reaffirmed total adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of AU$1.45 billion to AU$1.53 billion and free cash flow of more than AU$600 million.

Infratil (ASX:IFT, NZE:IFT) increased its fiscal 2027 proportionate operational earnings before interest, tax, depreciation, amortization, and fair value adjustments (EBITDAF) guidance to between NZ$1.32 billion and NZ$1.42 billion from a prior range of NZ$1.3 billion to NZ$1.4 billion after CDC Data Centres' increase in its EBITDAF guidance.

Lastly, Pengana International Equities (ASX:PIA) settled with Pengana Capital Group (ASX:PCG) and Pengana Capital, resolving the Supreme Court proceedings and providing a way to end Pengana Capital Group's Takeovers Panel application.