Australian shares rose on Tuesday, led by miners on the back of firmer commodity prices, while tech stocks followed their US peers lower and energy stocks fell after oil prices tumbled overnight.
The S&P/ASX 200 index gained 0.3% to 6,687.6, as of 0022 GMT.
The benchmark closed 1.4% lower on Monday.
Miners were the top gainers with a rise of more than 1%, after iron ore prices jumped on Monday due to higher demand for the steelmaking ingredient in top steel producer China.
Australia’s biggest miners BHP group, Rio Tinto and Fortescue Metals Group rose between 1.1% and 1.6%.
Syrah Resources jumped 6.6% to its highest since Sept. 20 after the graphite explorer announced a restart of its operations at the Balama project in Mozambique, two weeks after being hit by interruptions.
Financials and gold stocks drag Australian shares lower
Healthcare stocks advanced as much as 0.9%, with biotechnology giant CSL Ltd rising 0.2%.
Technology stocks weakened 0.5% after the Nasdaq fell to its lowest since July 2020 as investors pulled out of chipmakers on US restrictions aimed at hobbling China’s semiconductor industry.
Energy stocks fell as much as 1.6% after oil prices sank nearly 2% overnight to snap a five-session gaining streak.
Woodside Energy and Santos dropped 1.8% and 1.2%, respectively.
Among individual stocks, retailer Baby Bunting Group fell more than 24% and was set to record its worst session ever after posting a steep decline in first-quarter margins.
Mirvac Group said its chief executive officer Susan Lloyd-Hurwitz and chair John Mulcahy would both retire.
Shares of the property company were down 1.3%. New Zealand’s benchmark S&P/NZX 50 index rose by 0.4% to 10,959.78. Elsewhere, Japan’s Nikkei was down 0.7% and the S&P 500 E-minis futures were down 0.1%.
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