Australian stocks rose to an all-time high on Monday, helped by gains in index heavyweights banks and miners, while New Zealand shares inched lower ahead of second-quarter inflation data due later this week.
The S&P/ASX 200 index was up 0.9% at 8,028.1, as of 0031 GMT, after rising to a record high of 8,031.7 earlier in the session.
The benchmark had closed 0.9% higher on Friday.
Rate-sensitive financials climbed 0.9%, extending gains to a fifth session.
The “Big Four” banks rose between 0.5% and 1%.
Miners gained 0.7% on the back of improving copper prices. BHP Group and Rio Tinto rose 0.9% and 0.4%, respectively, ahead of their quarterly production results later in the week.
Energy stocks advanced 0.9%, with Woodside Energy and smaller rival Santos up 1% and 0.6%, respectively. Healthcare stocks climbed 1.1% to hit the highest level since early January 2022.
Biotech giant CSL and Ramsay Health Care rose more than 1% each.
Technology stocks advanced 0.9%, tracking gains in their Wall Street peers on Friday.
Australian shares push higher on broad-based rally; US CPI on tap
Xero and WiseTech Global rose 0.5% and 1.3%, respectively.
Across the Tasman Sea, New Zealand’s benchmark S&P/NZX 50 index fell 0.1% to 12,120.67, with investors awaiting the key consumer price index report due on Wednesday for further monetary policy cues.
Last week, the Reserve Bank of New Zealand held the cash rate steady, but opened the door to monetary policy becoming less restrictive over time should inflation slow as expected.
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