AIRLINK 74.70 Decreased By ▼ -0.55 (-0.73%)
BOP 5.13 Increased By ▲ 0.02 (0.39%)
CNERGY 4.48 Decreased By ▼ -0.12 (-2.61%)
DFML 33.26 Increased By ▲ 0.73 (2.24%)
DGKC 89.50 Decreased By ▼ -0.85 (-0.94%)
FCCL 22.63 Decreased By ▼ -0.35 (-1.52%)
FFBL 32.74 Decreased By ▼ -0.83 (-2.47%)
FFL 9.89 Decreased By ▼ -0.15 (-1.49%)
GGL 10.92 Decreased By ▼ -0.13 (-1.18%)
HBL 115.00 Increased By ▲ 0.10 (0.09%)
HUBC 136.39 Decreased By ▼ -0.95 (-0.69%)
HUMNL 9.90 Increased By ▲ 0.37 (3.88%)
KEL 4.62 Decreased By ▼ -0.04 (-0.86%)
KOSM 4.73 Increased By ▲ 0.03 (0.64%)
MLCF 39.82 Decreased By ▼ -0.72 (-1.78%)
OGDC 139.90 Increased By ▲ 0.15 (0.11%)
PAEL 27.23 Decreased By ▼ -0.42 (-1.52%)
PIAA 24.90 Increased By ▲ 0.50 (2.05%)
PIBTL 6.77 Decreased By ▼ -0.15 (-2.17%)
PPL 123.60 Decreased By ▼ -1.70 (-1.36%)
PRL 27.16 Decreased By ▼ -0.39 (-1.42%)
PTC 14.05 Decreased By ▼ -0.10 (-0.71%)
SEARL 59.15 Decreased By ▼ -2.70 (-4.37%)
SNGP 71.80 Decreased By ▼ -1.18 (-1.62%)
SSGC 10.46 Decreased By ▼ -0.13 (-1.23%)
TELE 8.69 Decreased By ▼ -0.09 (-1.03%)
TPLP 11.52 Decreased By ▼ -0.21 (-1.79%)
TRG 65.50 Decreased By ▼ -1.10 (-1.65%)
UNITY 25.76 Increased By ▲ 0.61 (2.43%)
WTL 1.40 Decreased By ▼ -0.04 (-2.78%)
BR100 7,820 Increased By 17.2 (0.22%)
BR30 25,621 Decreased By -194.7 (-0.75%)
KSE100 74,693 Increased By 161.6 (0.22%)
KSE30 24,063 Increased By 109 (0.46%)

Australian shares inched higher on Friday, but were poised for their worst week since late October as caution prevailed ahead of a key domestic inflation report that could provide clues on the central bank’s next moves.

The S&P/ASX 200 index edged 0.1% higher to 7,503.70 by 0018 GMT.

The benchmark has declined 1.1% so far this week after five straight weekly gains.

The country’s monthly inflation report for November, due next week, will be a key indicator for market participants to gauge the Reserve Bank of Australia’s (RBA) monetary policy decisions for the year ahead.

The RBA is likely to start easing its monetary policy as soon as May or June, even if the central bank has a nominal tightening bias.

Globally, market participants tempered their expectations of multiple interest rate cuts by the US Federal Reserve this year.

Australia shares starts 2024 higher on rate-cut hopes

In Sydney, banks led the gains on Friday, rising 0.5%.

However, they were set for their first weekly decline since mid-November.

Top lender Commonwealth Bank of Australia rose 0.7% on Friday, while Westpac was up 0.1%.

Gold stocks gained 0.8% after four straight sessions of falls, as bullion prices recovered overnight.

Northern Star Resources and Evolution Mining climbed 0.9% and 0.8%, respectively.

Tech firms dropped for a third consecutive session, falling 1.3%, and were on track for their worst week since mid-October. Sector major Xero fell 1.1% on Friday, while WiseTech Global lost 1.6%.

New Zealand’s S&P/NZX 50 index dipped 0.1% to 11,747.52 and was set for its first weekly decline in more than two months.

Comments

200 characters