News: XIJ Australian shares edge higher with inflation data in focus

Nov 27 (Reuters) - Australian shares inched higher on Monday, supported by financials and gold stocks, with investors awaiting domestic inflation data due this week to guide their outlook on the central bank's rate hike trajectory.

The S&P/ASX 200 index (xjo) was up 0.1% at 7,050 by 2355 GMT, set to extend gains for a second session, if current trend holds.

Australia on Wednesday will disclose its consumer price index (CPI) for October, a metric that will determine whether the Reserve Bank of Australia will hike interest rates again in its next meeting.

Gold stocks .AXGD advanced 0.8%, with Evolution Mining (EVN) and Northern Star Resources (NST) up 2.2% and 1.6%, respectively. Australia-listed shares of Newmont Corp (NEM) fell 0.2%.

Banks .AXFJ climbed 0.4%, with the "Big Four" lenders up between 0.1% and 0.5%.

Technology stocks .AXIJ notched gains of nearly 1%, catching the tailwind from a bounce on Wall Street in the previous session.

ASX-listed shares of Cash app owner Block (SQ2) rose 0.3%, and software firm Xero (XRO) climbed 0.4%.

Commodity stocks fell, with the energy sub-index .AXEJ down by 0.2%, tracking a decline in oil prices.

Shares of Woodside Energy (WDS) fell 0.3%, while Santos (STO) rose 0.3%.

Buyout-target Origin Energy (ORG) fell 0.7% after the energy giant said it will adjourn its scheme meeting with Brookfield-led consortium until Dec. 4.

Miners .AXMM inched 0.3% lower. Heavyweights Rio Tinto (RIO) fell 0.3% while BHP Group (BHP) slipped 0.5%.

Australia's IGO Ltd (IGO) slumped 1.3% after the battery minerals producer said Ivan Vella will head the company following his dismissal from Rio Tinto (RIO) last month for leaking confidential information.

New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.1% to 11,198.82.

The central bank will hold its overnight cash rate at 5.50% on Wednesday and at least through mid-2024, a Reuters poll showed.