SYDNEY/WELLINGTON: Australian shares finished at their highest level in more than 14 months on Wednesday, buoyed by commodity and healthcare-related stocks, although tech stocks tracked their US peers lower to curb further gains.
The S&P/ASX 200 index rose 0.4% to 7,095.80, its highest close since Feb. 21, 2020, and marking its third consecutive session of gains.
The Australian metals and mining sub-index rose 0.5%, hitting its highest level since May 29, 2008. Mining giants BHP Group and Rio Tinto gained 1.1% and 1.2%, respectively.
Financials added 0.6%, with top lender Commonwealth Bank of Australia adding 2.5%, while insurer QBE Insurance Group rose 4.1%.
Shares of Westpac Banking Corp closed marginally lower after the Australian securities regulator accused the lender of insider trading while financing a A$16 billion ($12 billion) Ausgrid privatisation in 2016.
New Zealand’s benchmark S&P/NZX 50 index declined 0.5% to 12,848.31, snapping a five-day gaining streak to post its biggest drop since April 21.
Comments
Comments are closed.