Australian shares rose to a four-week high on Tuesday, led by gold and energy stocks, while investors awaited minutes of the central bank’s November policy meeting for further clues about the interest rate path.
The S&P/ASX 200 index was up 0.4% at 8,329.2, as of 2333 GMT.
The benchmark hit its highest since Oct. 22 earlier in the session and was on track for a fourth straight session of gains.
The Reserve Bank of Australia will release it November monetary policy meeting minutes at 0030 GMT.
The central bank held rates steady this month as expected, reiterating policy would need to stay restrictive until it was certain core inflation was slowing as desired.
On Monday, RBA Assistant Governor Christopher Kent said the central bank has found no evidence that monetary policy is more potent in the country than elsewhere.
In Sydney, gold stocks rose as much as 2.7% to hit a one-week high on surging bullion prices.
The sub-index was on track for a third consecutive session of gains.
Gold miners Northern Star Resources and Evolution Mining climbed 1.5% and 3.2%, respectively.
Energy stocks gained as much as 1.7% to reach their highest level since Oct. 29. Brent crude futures rose 2.96% to $73.14 a barrel.
Sector majors Woodside Energy and Santos gained 1.7% and 1.9%, respectively. Rate-sensitive financials inched higher 0.2%, while miners struggled for direction.
Technology stocks climbed 2.1% to hit a record high.
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TechnologyOne rose as much as 7.7% to scale a record high and was among the top gainers on the benchmark along with Block Inc’s Australia-listed shares. Overnight, the Dow Jones Industrial Average inched lower by 0.13%.
The S&P 500 was up 0.39%, while the Nasdaq gained 0.60%.
In company news, diversified industrial services provider SRG Global said it won contracts worth A$700 million ($455.35 million).
Shares of the company rose as much as 10.9% to hit their highest level since May 2012.
In New Zealand, the benchmark S&P/NZX 50 index was up 0.3% at 12,803.53.
Source: Brecorder
