Australian shares climbed on Tuesday, lifted by hopes around US inflation data due later in the day, which could influence the Federal Reserve’s monetary policy path. The S&P/ASX 200 index rose 0.7% to 7,466.9 by 2341 GMT, amid gains across all sectors. The benchmark had declined 0.2% on Monday.

January’s US inflation data could indicate how well the Fed’s monetary tightening policy has performed and whether its future rate-hike trajectory would change from hereon. Domestic technology stocks were the top gainers, tracking their overseas peers and jumping 1.4%. ASX-listed shares of Block Inc and Xero Ltd climbed 2.7% and 1.7%, respectively.

Firmer oil prices further boosted the benchmark, with energy stocks rising 1%. Sector heavyweights Woodside Energy Group and Santos added 1.5% and 1.1%, respectively.

Export-reliant miners gained 0.3%. BHP Group , Rio Tinto, and Fortescue Metals Group rose between 0.2% and 0.6%. Financials added 0.9%, with all “Big Four” posting gains.

Among individual stocks, the world’s largest fibre cement maker James Hardie fell up to 8.7% after lowering its annual earnings guidance for the third time on account of weaker demand from its North America and Asia-Pacific geographies. Biotech giant CSL Ltd rose as much as 1%.

Australian shares fall on rate-hike worries; Star Entertainment tanks

It posted a 10% jump in its first-half profit, surpassing estimates, on account of higher blood plasma collections and the acquisition of Swiss drugmaker Vifor Pharma AG boosting its bottomline. In New Zealand, the benchmark S&P/NZX 50 index rose 0.3% to 12,108.61.