Nov 10 (Reuters) - Australian shares edged higher on
Wednesday, supported by gold stocks and financials, though lower
metal prices weighed on the heavyweight mining sector, while an
overnight drop in Wall Street amid inflationary risks further
dampened risk appetite.
The S&P/ASX 200 index was up 0.23% at 7,451.40, as
of 0010 GMT.
Financial stocks, which were the top boost in the
benchmark index, rose as much as 1.2%. National Australia Bank
Ltd led the gains with a 2.9% jump, followed by Janus
Henderson Group PLC climbing 1.7%.
Top lenders Commonwealth Bank of Australia, Westpac
Banking Corp, and Australia and New Zealand Banking
Group jumped between 0.5% and 1.5%.
Australian gold stocks gained up to 1.06%, as
bullion climbed to the highest level since early September after
U.S. inflation worries lifted its safe-haven appeal.
Gold explorer Resolute Mining Ltd climbed 4.65%
while Alkane Resources Ltd advanced 3.23%.
Among the laggards, heavyweight mining sector fell
1.4%, followed by Perenti Global Ltd and ioneer Ltd
losing 3.55% and 5.1%, respectively.
Overnight, copper prices retreated on deepening debt crisis
in China's property sector, while iron ore futures fell 1%.
Global miners BHP Group and Rio Tinto shed
as much as 2% each as iron ore futures trade near a 12-month
Technology stocks dropped 1% with Nearmap Ltd
losing 3.98%, followed by a 2.21% drop in Afterpay Ltd
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50
index edged 0.7% lower to 13,000.99, marking its worst
intraday drop in five weeks.
Payments platform Pushpay Holdings fell 19% after
the company reported a lower-than-expected total procession
(Reporting by Dhriti Garg in Bengaluru; Editing by Sherry