June 8 (Reuters) - Australian shares rose on Wednesday,
lifted by gains in mining and energy stocks, while banks slipped
after the country's central bank hiked interest rates by the
most in 22 years.
The S&P/ASX 200 index was up 0.6% at 7,136.40 by
0037 GMT, snapping a two-session losing streak. The benchmark
slid 1.5% on Tuesday.
In other key markets, Japan's Nikkei rose 0.7% at
28,138.94 and S&P 500 E-minis futures fell 0.2%.
At its policy meeting on Tuesday, the Reserve Bank of
Australia stunned markets by lifting its cash rate by 50 basis
points to 0.85%. The last time it hiked by more was in early
The metals and mining index led gains on the local
bourse, jumping 2% to hit more than one-month high, even as iron
ore prices retreated after Chinese demand for the steelmaking
ingredient spurred an earlier rally.
The mining trio BHP Group, Rio Tinto and
Fortescue Metals Group climbed 1.1%-2.9%.
Energy stocks gained 2.2% on rising oil prices.
Major oil and gas producers Woodside Energy Group
and Santos rose 0.9% and 2.3%, respectively.
Strong bullion prices lifted gold stocks up 1.9%,
with Newcrest Mining and Northern Star Resources
rising 1.5% and 2%, respectively.
Financials dropped 1.5%, set to record a three-day
losing streak. Australia's so-called "Big Four" banks lost
between 0.9% and 2.1%.
Atlas Arteria surged 15.2% on fund manager IFM
Global Infrastructure Fund acquiring a 15% stake in the issued
securities of the toll road operator and contemplating a
potential takeover bid.
Boral Ltd jumped 5.8% after the construction
materials maker appointed former boss of ASX-listed Cleanaway
Waste Management Vik Bansal as its chief executive
officer and managing director.
New Zealand's benchmark S&P/NZX 50 index rose 0.3%
(Reporting by Upasana Singh; Editing by Rashmi Aich)