Australian shares were little changed in choppy trade on Tuesday, as technology stocks and export-focussed healthcare companies countered gains in mining and banking stocks.
The S&P/ASX 200 index was down just 0.1% at 7,144.60 by 0034 GMT.
In global equities, stocks rallied after the European Central Bank said it was likely to lift its deposit rate out of negative territory by September.
The MSCI all-country world index gained 1.5%, Japan’s Nikkei shed 0.2% and S&P 500 E-minis futures slid 0.7%.
The Australian metals and mining index rose 0.8% in its third straight day of gains, as benchmark iron ore futures soared in China on Monday. Sector heavyweights Rio Tinto, BHP Group and Fortescue Metals Group gained 0.6%-1.6%.
Financials added 0.3%.
Miners lift Australian shares; new Labor PM Albanese sworn in
The country’s four largest lenders rose between 0.4% and 1.0%.
Energy stocks advanced 0.1%, following a rise in Brent crude futures.
Australia’s gas producers Woodside Energy and Santos were up 0.9% and 0.2%, respectively. Domestic technology stocks, meanwhile, lost 2.6%.
ASX-listed Block and investment services provider Computershare slid 5.3% and 1.1%, respectively. Healthcare stocks dropped 0.5% as the dollar fell broadly after already selling off last week.
Biopharmaceutical firm CSL fell as much as 0.9%, its second straight session of losses.
New Zealand’s benchmark S&P/NZX 50 index was down 0.4% at 11,266.91.
Data showed that the country’s retail sales volumes fell in the first quarter.
Comments
Comments are closed for this article.