Australian shares edged higher on Thursday helped buying in financials and material firms, though broader market gains were checked by generally subdued regional markets amid trade war worries. The S&P/ASX 200 index closed 0.3 percent, or 17.6 points higher to 6,262.7, having climbed 0.7 percent on Wednesday.
Sentiment was still fragile in financial markets amid the US-driven international trade dispute, which has entangled Europe to Mexico to China - Australia's biggest export market. Materials are particularly vulnerable to any sharp slowdown in China as the world's second-biggest economy sucks up a major portion of Australian commodities and is an important driver of its growth.
On Thursday, miners advanced with Rio Tinto and South32 rising 1.4 percent and 2 percent, respectively. New Zealand's benchmark S&P/NZX 50 index closed 0.3 percent lower at 8,917.59. Index heavyweight a2 Milk Company was the biggest drag, falling 2.4 percent to its lowest close in 1-1/2 months.
Comments
Comments are closed.