| June 14
June 14 Australian shares rose to a near
one-month high on Wednesday driven by broad-based gains in the
wake of record highs on Wall Street that was helped by a rebound
in technology stocks.
The S&P/ASX 200 index climbed 1 percent, or 55.53
points, to 5,827.7 by 0324 GMT. The benchmark added 1.7 percent
on Tuesday in its best day in seven months.
Wall Street gained on Tuesday as tech stocks, which saw
heavy selling over the weekend, bounced back and as investors
positioned for an expected Federal Reserve rate rise later in
The Fed is scheduled to announce its monetary policy
decision at 1800 GMT at the end of a two-day policy meeting, and
may provide clues on the rate rise cycle this year.
"We have seen a really strong bid coming into the market and
I think a lot of it is down to global sentiment and momentum,"
said Chris Weston, an institutional dealer with IG Markets.
"I think the idea that stocks have done really well
recently, continue to work brilliantly and maybe you can also
make an assumption that the market is not particularly
Financials stocks, tracking their U.S. peers, led the gains
on the benchmark, with Commonwealth Bank of Australia,
the biggest bank by market value, posting a near 1 percent rise.
Meanwhile, CBA's 'Big Four' peers rose in a range of 0.4
percent to 1.4 percent.
The metals and miners index was held afloat by gold
stocks gaining on higher yellow metal prices, and by a near one-
percent rise in BHP shares.
BHP rival Rio Tinto, however, lost 0.6 percent on
persistent weakness in iron ore and base metal prices.
China's iron ore futures slid to their weakest level in
almost seven months on underlying concerns over surplus glut.
The energy index was 0.2 percent higher helped by a
1 percent gain in oil and gas explorer Woodside Petroleum
. Oil price rose overnight, although they fell by one
percent early on Wednesday on U.S. stock builds and higher OPEC
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New Zealand's benchmark S&P/NZX 50 index was 0.7
percent, or 48.86 points, higher at 7,488.94.
Gains were concentrated in the financials sector with
Westpac's and ANZ's New Zealand-listed posting
gains of 2 percent and 0.8 percent, respectively.
Kiwi tech stocks also tracked their U.S. peers higher, with
accounting software maker Xero Ltd up 2.2 percent.
(Reporting by Rushil Dutta; Additional reporting by Christina
Martin in Bengaluru; Editing by Jacqueline Wong)