Soaring commodities help ASX to stellar outperformance

The dominance of the mining stocks, and chiefly BHP Group, on the Australian sharemarket has helped it smash the S&P 500 by its biggest margin in more than three years, as commodity prices return to supercycle levels.

A surge in inflation, the tightening of Federal Reserve policy and the conflict in Ukraine have lit a fire under energy, metals and bulks in recent months, rewarding ASX-listed producers.