Australian shares climbed to a record high on Tuesday, helped by financials and following an upbeat lead-in from Wall Street, while investors braced for domestic economic growth data due later in the week.

The S&P/ASX 200 index leaped 0.7% to an all-time high of 8,503.7 points by 2337 GMT.

The benchmark had scaled four record peaks in November. Overnight in the US, the Nasdaq and S&P 500 scored record closing highs, boosted by tech-related shares.

The S&P 500 gained 14.77 points, or 0.24%, while Nasdaq added 185.78 points, or 0.97%.

However, the US Dow Jones Industrial Average shed 128.65 points, or 0.29%, at 44,782.00 points.

Domestically, investors will look out for economic growth data for the September-quarter on Wednesday.

In Sydney, financials edged up 0.9% to lead the benchmark higher.

Westpac and the Commonwealth Bank of Australia rose 1.9% and 0.5%, respectively.

Australian shares struggle for direction as gold stocks drag; NAB tumbles

Miners jumped 0.4%, tracking a rally in iron ore futures. Sector heavyweights Fortescue and Rio Tinto gained 1.8% and 0.4%, respectively.

Information technology firms tracked their US peers higher, jumping 0.6%.

Software firm Xero advanced 0.8%.

Energy stocks were up 0.2% after a lukewarm move in oil prices overnight. Brent crude futures climbed 0.13% to $71.93 a barrel, while US West

Texas Intermediate (WTI) crude gained 0.03% to $68.12 per barrel.

Bucking the trend, gold stocks dropped 0.6%, as a strong US dollar weighed on bullion prices.

Across the Tasman Sea, New Zealand’s benchmark S&P/NZX 50 index dropped 0.2% to 13,092.73 points.