Australian shares climbed on Monday after a three-session slide, with investors awaiting a central bank policy meeting later in the week for further direction.
The S&P/ASX 200 index inched 0.3% higher to 8,138.9 by 1133 GMT. The benchmark fell 1.1% last week in its worst week in nearly three months.
The Reserve Bank of Australia is expected to hold its interest rate at 4.35% on Tuesday and for the rest of the year, according to a Reuters poll.
Technology and healthcare stocks advanced as much as 1.9% and 1.2%, respectively.
Rate-sensitive financials were largely flat. Shares of Westpac fell as much as 2.5% to their lowest level since mid-October, after the country’s third-largest lender by market value posted a fall in annual profit.
Miners shed 0.5% due to weak iron ore prices. Fortescue fell 0.5%, while BHP Group and Rio Tinto inched higher by 0.2% each.
Australian shares post worst week in nearly 3 months; Macquarie skids
Gold stocks inched lower by 0.3%, tracking losses in bullion prices.
Gold miners Northern Star Resources and Evolution Mining inched lower by 0.3% each.
Energy stocks were down by 0.4% despite oil prices settling slightly higher on Friday. Sector major Woodside Energy inched lower by 0.5%.
Among individual stocks, Mineral Resources dropped 8.2% and was headed for its worst session since Oct. 21, after its founder and managing director stepped down and incurred financial penalties following a tax evasion probe.
In New Zealand, the benchmark S&P/NZX 50 index inched higher 0.3% to 12,607.69.
Source: Brecorder
