Australian shares rose for a fourth straight day on Tuesday, on the back of gains in banks offsetting losses in miners and energy stocks as investors took cues from Wall Street performance overnight.
The S&P/ASX 200 index rose 0.4% to 8,289.1 points by 2338 GMT.
The benchmark closed 0.1% higher on Monday.
The S&P 500 and Nasdaq Composite rose on Monday with a rally in semiconductor stocks and a report suggesting a less aggressive tariff stance from the incoming Trump administration.
Locally, traders are also on the lookout for the November consumer price index (CPI) data due on Wednesday.
The figure is expected to increase to 2.2% compared with a rise of 2.1% in October, according to a Reuters poll of economists. Financials were up 0.6% in their fourth session of consecutive gains.
Three of the “big four” banks rose between 0.3% and 0.5%. Miners lost 0.2%, falling for the third straight day.
Iron ore prices were pressured by a slower hot metal output in China and a weakness in the top consumer’s equity markets. BHP was flat while Rio Tinto fell 0.2%.
Australian shares fall as miners offset real estate and healthcare gains
Gold stocks declined 0.6% as prices of the precious metal fell on higher US treasury yields. Northern Star Resources dropped 0.6% while Evolution Mining slipped 0.7%.
Energy stocks too shed 0.3%, tracking a dip in oil prices.
The sub-index is on its way to snap a nine-day winning streak.
Woodside Energy dipped 0.3% and Santos was flat.
Among company news, shares of Syrah Resources rose 2.3% to A$0.22 after it secured a loan waiver amid Mozambique unrest. New Zealand’s benchmark S&P/NZX 50 index fell 0.1% to 13,060.63 points.
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