However, market gains capped as hawkish comments from U.S. Federal Reserve officials and a persisting tight labour market raised fears of a prolonged monetary policy tightening.
At closing bell, the benchmark S&P/ASX200 index was up 16.18 points, or 0.23%, to 7,151.83. The broader All Ordinaries index added 15.76 points, or 0.21%, to 7,354.74.
The top performing stocks in S&P/ASX200 index were OZ MINERALS and NIB HOLDINGS, up 3.95% and 3.19% respectively. The bottom performing stocks in S&P/ASX200 index were PERPETUAL and NEW HOPE CORP, down 12.6% and 6.5% respectively.
Shares of financials were up, with so-called big four banks - National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac climbed between 0.2%-1.8%
Materials stocks gained as iron ore prices inched higher on hopes that China will roll out more measures to support its economy. BHP Group added 0.3% after delivering A$9.6 billion (S$8.8 billion) bid for copper and gold producer OZ Minerals. OZ Minerals surged 4%.
Rio Tinto edged down after it said it will proceed with acquiring the remaining 49% in Turquoise Hill Resources for $3.3 billion.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
