ASX 200 jumps most in 2 weeks
Aussie inflation due on Wednesday
Banks, miners rise for 2 straight days
NZX 50 clocks 3 days of decline
(Updates to close)
Australian shares advanced on Monday, with financials and miners leading the charge, while investors keenly awaited a crucial local inflation reading due later in the week, which could cement expectations of further monetary policy tightening.
The S&P/ASX 200 index (xjo) rose 0.9% at 7989.60, its biggest intra-day percentage jump since July 12.
June quarter consumer price data is due on Wednesday, with inflation expected to increase to 3.8% from 3.6% in the prior quarter. There are concerns the Reserve Bank of Australia (RBA) could raise interest rates when it meets on Aug. 6.
A mixed employment report earlier this month and stubbornly high inflation raised expectations of a RBA rate hike as early as August, with markets now pricing in a 21% chance of a hike from 12% two weeks ago.
"The Aus CPI print...could put the 6 August RBA meeting as a truly 'live' event, while a weaker-than-expected outcome could take any chance of a rate hike off the table – much to the relief of the local equity market," Chris Weston, head of research at brokerage Pepperstone said in a note.
Financials .AXFJ rose as much as 1.1% to their highest since July 18. Top lender Commonwealth Bank of Australia (CBA) rallied 1% to a record high, while ANZ Group (ANZ) shed 1%.
Miners .AXMM followed suit to add 0.1% in a two-day rally. BHP Group (BHP) rose 0.05%, while Rio Tinto (RIO) fell 0.07% ahead of its full-year earnings on Wednesday.
News of fresh stimulus from China last week propped up mining stocks, a sector that would benefit most as China is resource-rich Australia's top trading partner.
Real estate stocks .AXRE , healthcare firms .AXHJ , and consumer staples .AXSJ rose between 0.7% and 1.4%.
New Zealand's benchmark S&P/NZX 50 index (nz50) dipped 0.3% in its third-straight session of losses. Construction products maker Fletcher Building (FBU) topped losses while weighing on the benchmark after flagging supply-chain woes.
- Forums
- ASX - By Stock
- News: RIO Banks, miners lead Australia shares higher; inflation awaited
ASX 200 jumps most in 2 weeks Aussie inflation due on Wednesday...
Featured News
Add RIO (ASX) to my watchlist
(20min delay)
|
|||||
Last
$122.75 |
Change
1.580(1.30%) |
Mkt cap ! $45.73B |
Open | High | Low | Value | Volume |
$121.52 | $124.12 | $121.52 | $93.63M | 760.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 194 | $122.75 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$122.76 | 188 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 127 | 122.780 |
1 | 25 | 122.770 |
9 | 348 | 122.760 |
4 | 89 | 122.750 |
3 | 65 | 122.740 |
Price($) | Vol. | No. |
---|---|---|
122.790 | 88 | 4 |
122.820 | 79 | 1 |
122.830 | 149 | 4 |
122.840 | 106 | 3 |
122.850 | 140 | 5 |
Last trade - 12.10pm 08/10/2024 (20 minute delay) ? |
Featured News
RIO (ASX) Chart |