June 8 (Reuters) - Australian shares rose in early trade on
Tuesday, helped by gold miners, although the gains were capped
by weakness in other mining stocks and a subdued finish on Wall
The S&P/ASX 200 index climbed 0.3% to 7,302.3, after
having closed slightly lower on Monday.
Gold miners dominated gains on the Australian
benchmark, rising as much as 1%. Sector heavyweight Newcrest
Mining advanced as much as 1.2%, while Northern Star
Resources rose nearly 1%.
Gold hovered near the key level of $1,900 an ounce on
Tuesday, as the dollar slid and bond yields weakened, with
investors awaiting U.S. inflation data later this week.
Denting sentiment, however, the S&P 500 ended a
languid session slightly in the red, with investors standing by
on news of a global minimum corporate tax rate, lingering
inflation fears, and a lack of market-moving economic news.
Among individual stocks and sectors in Australia, tech
stocks tracked the Nasdaq higher, gaining up to
0.6% to hit their highest levels in a month.
Buy-now-pay-later juggernaut Afterpay rose nearly
1.6%, while intelligence firm Nearmap added as much as
In the financial sub-index, top lender Commonwealth
Bank of Australia was down 0.2%. The other big banks
rose between 0.6% and 0.9%.
Miners fell up to 0.6% as softer iron ore prices
The big miners Rio Tinto, BHP Group and
Fortescue Metals were all down more than 1%.
Among individual stocks, software maker Altium's
shares dipped 4.7% after surging as much as 40.6% on Monday. The
stock was among biggest percentage losers on the benchmark.
New Zealand's benchmark S&P/NZX 50 index traded 0.3%
(Reporting by Savyata Mishra in Bengaluru; editing by