AIRLINK 172.35 Decreased By ▼ -0.80 (-0.46%)
BOP 10.59 Decreased By ▼ -0.06 (-0.56%)
CNERGY 8.48 Decreased By ▼ -0.04 (-0.47%)
CPHL 100.26 Increased By ▲ 2.80 (2.87%)
FCCL 46.59 Decreased By ▼ -0.66 (-1.4%)
FFL 15.44 Increased By ▲ 0.02 (0.13%)
FLYNG 27.49 Decreased By ▼ -0.64 (-2.28%)
HUBC 138.65 Decreased By ▼ -0.26 (-0.19%)
HUMNL 12.85 Increased By ▲ 0.04 (0.31%)
KEL 4.47 Decreased By ▼ -0.07 (-1.54%)
KOSM 5.50 Decreased By ▼ -0.05 (-0.9%)
MLCF 61.85 Decreased By ▼ -0.41 (-0.66%)
OGDC 214.15 Decreased By ▼ -0.60 (-0.28%)
PACE 5.48 Decreased By ▼ -0.07 (-1.26%)
PAEL 46.20 Increased By ▲ 1.34 (2.99%)
PIAHCLA 19.01 Increased By ▲ 0.31 (1.66%)
PIBTL 10.63 Decreased By ▼ -0.11 (-1.02%)
POWER 12.50 Increased By ▲ 0.24 (1.96%)
PPL 173.15 Decreased By ▼ -0.72 (-0.41%)
PRL 36.27 Increased By ▲ 0.05 (0.14%)
PTC 23.50 Decreased By ▼ -0.06 (-0.25%)
SEARL 97.70 Increased By ▲ 2.39 (2.51%)
SSGC 40.65 Increased By ▲ 1.52 (3.88%)
SYM 13.90 Decreased By ▼ -0.12 (-0.86%)
TELE 7.20 Decreased By ▼ -0.03 (-0.41%)
TPLP 10.16 Decreased By ▼ -0.13 (-1.26%)
TRG 64.11 Decreased By ▼ -0.57 (-0.88%)
WAVESAPP 10.03 Decreased By ▼ -0.01 (-0.1%)
WTL 1.32 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.70 No Change ▼ 0.00 (0%)
BR100 12,427 Decreased By -64.9 (-0.52%)
BR30 37,605 Decreased By -89.3 (-0.24%)
KSE100 115,803 Decreased By -386.5 (-0.33%)
KSE30 35,582 Decreased By -168.7 (-0.47%)

Australian shares settled higher on Monday as investors looked forward to a potential interest rate cut from the central bank next month, while diversified miner South32 rose after its second-quarter production beat market estimates.

The S&P/ASX 200 index climbed 0.5% to 8,347.40 to post its highest close since Jan. 8, with all sectors except gold finishing higher.

Market participants are awaiting fourth-quarter inflation data, due next week, to gain a better understanding of the Reserve Bank of Australia’s monetary policy stance.

Earlier in January, data showed a drop in November core inflation, strengthening the case for a rate cut in February.

“Investors look to be feeling better about the interest rate picture due to softer CPI prints locally and in the US over the past few weeks,” said Tim Waterer, chief market analyst at KCM Trade.

“This improved optimism over anticipated rate cuts has helped enthusiasm on the ASX to kick off the week.”

Markets are still pricing in a 73% chance of a reduction of 25 basis points next month, according to the RBA watch tool. Rate-sensitive financials rose 0.7%, with the ‘big four’ banks up between 0.4% and 0.7%.

Miners climbed 0.2%, with South32 rising 0.9% to its highest close since Dec. 11.

Banks weigh on Australia shares; Rio Tinto falls

South32 reported a smaller-than-expected decline in second-quarter manganese ore output, as the miner resumed production in Australia following a cyclone that halted operations in March.

Discretionary stocks rose 0.6% in their fourth consecutive session of gains.

JB Hi-Fi jumped about 3% to log its best session since Dec. 23.

Gold stocks slumped about 1.6% to snap a nine-session rally, as bullion prices dipped.

New Zealand’s benchmark S&P/NZX 50 index fell 0.3% to 13,088.31, with investors awaiting fourth-quarter inflation data due later this week for further direction.

Comments

200 characters
Leo Fadel Jan 25, 2025 02:21am
Great to see Australian shares on the rise! The potential interest rate cut is exciting news. I'm particularly interested in how South32 is performing amidst these changes.
thumb_up Recommended (0) reply Reply