SYDNEY/WELLINGTON: Australian shares reversed course to close slightly higher on Monday, as strong economic data from the country’s top trading partner China buoyed sentiment, but weaker technology and mining stocks limited gains.
The S&P/ASX 200 index ended 0.1% higher at 6,773.00, extending the benchmark’s 0.8% rise on Friday.
Gold stocks were top gainers, closing the session 1.2% higher as the sector gained from a cheaper US dollar.
De Grey Mining ended about 6% higher, while Red 5 closed 8.8% up.
The healthcare sector finished above 1%, with industry heavyweight CSL rising 1% and Ansell gaining 2%.
Travel-related stocks soared after Australia and Singapore said they are discussing an air travel bubble that would allow travel between the two countries without the need for quarantine.
Bucking the overall trend, technology stocks tumbled about 2%, tracking weakness in their Wall Street peers on Friday, while miners slipped on lower iron ore prices.
New Zealand’s benchmark S&P/NZX 50 index gained 1.3%to finish the session at 12,592.26.
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