AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

Australian shares rose on Wednesday, tracking their peers on Wall Street, with the technology and commodity sectors leading the gains as investors braced for the outcome of a tightly fought election in the United States.

The S&P/ASX 200 index rose 0.7% to 8,190.90 points by 2350 GMT, with all sub-indexes trading in the green.

The benchmark fell 0.4% on Tuesday. Globally, traders are tuned into a hotly-contested US election as opinion polls failed to suggest a clear winner between Republican Donald Trump and Democrat Kamala Harris.

In the event of Trump becoming president, his tariffs could trigger a global trade war, potentially harming Antipodean economies that depend significantly on free trade.

Back on the local bourse, the heavy-weight mining index gained the most, as iron ore prices in top steel producer China climbed on the prospects of more stimulus measures.

Sector behemoths BHP Group, Rio Tinto and Fortescue rose between 0.4% and 1.2%.

The gold sector lodged a 0.6% rise, as prices of the precious metal edged higher on prospects of political tensions in the world’s largest economy.

Evolution Mining and Northern Star Resources rose 1.2% and 1% respectively.

Technology stocks followed suit with a 1.2% gain, as their counterparts on the Nasdaq Composite Index climbed. Accounting software provider Xero rose 1%.

Financials drag Australia shares lower; RBA rate decision looms

The financial sector advanced 0.7%, with all the “Big Four” banks trading between 0.3% and 0.8% higher. New Zealand’s benchmark S&P/NZX 50 index reversed early losses, trading 0.2% higher to 12,681.37 points.

The country’s jobless rate rose to a near four-year high in the September quarter, cementing bets of a 50-basis-point cut by the central bank later this month.

Comments

200 characters