At noon AEST on Wednesday, the benchmark S&P/ASX200 index was flat, up 1.1 points, or 0.01 per cent, at 8142.0, while the broader All Ordinaries was up 3.4 points, or 0.04 per cent, at 8,364.6.
Whether the ASX continues its unexpected climb is yet to be seen as the suspected interest rate cut in the US looms large ahead of the announcement Thursday morning, as well as similar calls by other central banks.
"Every man, woman, and their dog still awaits the Bank of Japan's interest rate decisions, the Bank of England, and the Fed's ahead of the RBA's call next week," said Moomoo market strategist Jessica Amir.
On Wednesday, the local market opened with six of the 11 major sectors slightly in the red. Health care was the worst impacted, showing a loss of 0.7 per cent just before noon.
Utilities is doing most of the heavy lifting to keep the market just above water with its 1.6 per cent surge, with Origin Energy up 3.4 per cent.
Energy was up by 0.5 per cent, with sector heavyweight Energy Resources growing 17 per cent and New Hope climbing 4.2 per cent.
The mining sector opened slightly higher with a 0.2 per cent rise, although heavyweights BHP and Rio Tinto had minor movements.
Chalice Mining was up 16.5 per cent and Sovereign Metals had climbed 8.3 per cent.
In the financial sector, Solvar was one of the bigger movers, up 3.7 per cent.
Suncorp had gained 1.3 per cent, NAB was up 0.8 per cent and Westpac 0.35 per cent better.
Meanwhile, the Australian dollar had climbed further against its weakening US counterpart, buying 67.63 US cents, from 67.52 US cents at Tuesday's ASX close.
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