Australian shares rose on Friday, led by miners and financials, while Fortescue Metals climbed after confirming its Iron Bridge project was on track to begin production at the end of the March quarter.
The S&P/ASX 200 index climbed 0.4% to 7,501.20 by 2334 GMT.
The benchmark has risen 0.7% so far in the week, heading for its fourth straight weekly gain.
Miners added 0.9% and were on track for a 1.1% surge this week.
Sector heavyweights BHP Group and Rio Tinto rose 1.6% and 0.7%, respectively. Fortescue Metals jumped 3.3%, also buoyed by strong second-quarter shipments.
Power producer Origin Energy climbed 2.3% after raising its fiscal 2023 earnings outlook for the key energy markets business. Financials rose 0.6% to hit a more than eight-month high. The ‘Big Four’ banks were up between 0.6% and 0.9%.
Technology stocks tracked their Wall Street peers higher and were up 0.9%. Payment terminals firm Tyro Payments surged 3.5% after offering private equity firm Potentia Capital access to its books for four weeks.
Energy stocks dropped 0.9%, with Australia’s largest independent coal miner Whitehaven Coal slipping 6.4% and New Hope Corp slumping 7.5%. Gold stocks shed 0.3% after a fall in bullion prices.
Australian shares flat on global recession fears, Whitehaven Coal jumps
Newcrest Mining, the country’s largest gold miner, retreated 1.6%.
New Zealand’s benchmark S&P/NZX 50 index rose 0.3% to 12,053.61, its highest since April 11.
The benchmark extended gains to a third session and was set for a 0.6% rise this week.
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