AIRLINK 75.65 Increased By ▲ 1.95 (2.65%)
BOP 4.90 No Change ▼ 0.00 (0%)
CNERGY 4.43 Decreased By ▼ -0.09 (-1.99%)
DFML 43.58 Decreased By ▼ -1.30 (-2.9%)
DGKC 84.66 Decreased By ▼ -0.84 (-0.98%)
FCCL 21.30 Decreased By ▼ -0.10 (-0.47%)
FFBL 32.49 Decreased By ▼ -0.02 (-0.06%)
FFL 9.53 Decreased By ▼ -0.06 (-0.63%)
GGL 10.09 Decreased By ▼ -0.18 (-1.75%)
HASCOL 6.98 Decreased By ▼ -0.15 (-2.1%)
HBL 114.59 Decreased By ▼ -0.11 (-0.1%)
HUBC 139.20 Increased By ▲ 0.10 (0.07%)
HUMNL 12.15 Decreased By ▼ -0.27 (-2.17%)
KEL 4.97 Decreased By ▼ -0.06 (-1.19%)
KOSM 4.40 Decreased By ▼ -0.05 (-1.12%)
MLCF 37.22 Decreased By ▼ -0.38 (-1.01%)
OGDC 134.26 Decreased By ▼ -2.54 (-1.86%)
PAEL 25.31 Decreased By ▼ -0.08 (-0.32%)
PIBTL 6.64 Decreased By ▼ -0.05 (-0.75%)
PPL 119.33 Decreased By ▼ -1.67 (-1.38%)
PRL 26.38 Decreased By ▼ -0.21 (-0.79%)
PTC 13.79 Decreased By ▼ -0.31 (-2.2%)
SEARL 56.93 Decreased By ▼ -0.37 (-0.65%)
SNGP 66.90 Decreased By ▼ -1.10 (-1.62%)
SSGC 10.40 Decreased By ▼ -0.02 (-0.19%)
TELE 8.32 Decreased By ▼ -0.13 (-1.54%)
TPLP 10.92 Decreased By ▼ -0.06 (-0.55%)
TRG 62.89 Decreased By ▼ -0.45 (-0.71%)
UNITY 27.10 Increased By ▲ 0.05 (0.18%)
WTL 1.36 Decreased By ▼ -0.02 (-1.45%)
BR100 7,919 Decreased By -21.9 (-0.28%)
BR30 25,411 Decreased By -237 (-0.92%)
KSE100 75,395 Decreased By -122.7 (-0.16%)
KSE30 24,204 Decreased By -74 (-0.3%)

Australian shares jumped on Friday in broad-based buying, with mining stocks leading the gains, as investors looked ahead to August economic data from China, the country’s biggest trading partner.

The S&P/ASX 200 index climbed 1.5% to 7,291.4 by 0030 GMT and looked set to post its sharpest daily rise since July 13, if gains held.

The benchmark has risen 1.6% so far in the week, heading for its best week in nearly two months.

Investors worldwide were awaiting a slew of data from China, which has been struggling to prop up its economy after a brief post-COVID recovery. Back home, data released on Thursday showed that Australian jobs surged in August.

However, it did not dent hopes for the country’s central bank to stand pat on interest rates next month.

Heavyweight miners led the gains, rising 2.7% in their biggest intraday percentage climb since July 25 on strong metal prices. Mining giants BHP Group and Rio Tinto climbed 2.9% each, while Fortescue Metals Group was up 3.2%.

Financials rose 2.7%, hitting their highest level since Aug. 11, with the “big four” banks up between 0.9% and 1.7%.

Miners and financials lead Australian shares higher

Energy stocks advanced 1.6% as oil prices rose to their highest level in 2023.

Sector major Woodside Energy was up 1.1%. In other news, Australia’s competition regulator said it intended to deny authorisation for Qantas Airways and China Eastern Airlines to coordinate operations between the two countries.

Shares of Qantas were up 1.2%. Meanwhile, New Zealand’s benchmark S&P/NZX 50 index fell 0.1% to 11,305.33.

Comments

Comments are closed.