Australian shares cross 9,200 level as miners, healthcare rally

Australian shares crossed the 9,200 level for the first time on Thursday, lifted by strong gains in miners and healthcare stocks, as investors focused on upbeat corporate earnings rather than inflation jitters.

The S&P/ASX 200 index rose 0.5% to 9,171.80, as of 2345 GMT, after hitting a record high of 9,202.90 earlier in the session.

Miners jumped 1.7% to a record high, tracking two-week high copper prices, which gained on the back of growth and demand optimism.

Heavyweights BHP rose 3.2% to a fresh peak, while Rio Tinto rose around 3%. Sigma Healthcare rose about 7% to an eight-month high after flagging strong early second-half momentum, lifting the healthcare sub-index 1.9%.

Hospital operator Ramsay Health Care surged more than 14% to top the benchmark index after posting a higher underlying net profit.

Technology stocks took cues from their Wall Street peers, rising 4.2% as worries over artificial intelligence disruption and costs gave way to renewed optimism about its benefits.

On the other hand, financials fell 0.5%, with three of the big four banks falling between 0.5% and 1.1%, and ANZ Group rising 0.5%.

Data released on Wednesday showed that consumer prices rose more than expected in January, while core inflation hit a more than one-year high, raising the risks of monetary policy tightening.

Swaps now imply an 82% probability that the central bank will hold rates at 3.85% at its March meeting, but a 70% chance of a hike in May.

Lynas Rare Earths climbed 3.5% to a near four-month high after posting its best first-half profit in three years. Flag carrier Qantas Airways fell 1.4% despite a better-than-expected first-half profit.

In New Zealand, the benchmark S&P/NZX 50 index rose

 0.6% to 13,610.4.