* Mining and tech stocks lead gains
* All sectors but energy in positive territory
* Link Administration gets regulatory nod for buyout
Sept 8 (Reuters) - Australian shares rose on Thursday by
their most in more than 10 weeks, as the country's top central
banker signalled a slower pace of interest rate hikes, easing
worries about further aggressive tightening.
The S&P/ASX 200 index closed 1.77% higher at 6,848.7
after two straight sessions of losses.
Reserve Bank of Australia Governor Philip Lowe said rates
were closer to neutral levels after a run of hikes, but there
was much uncertainty about how much further they might have to
rise to bring demand back into line with supply.
"The fact that Lowe is not as hawkish as feared is more of
the icing on the cake... considering the unscored elements that
he brought on table this week," said Hebe Chen, a market analyst
at IG Australia.
Re-emphasising that households have built up large financial
buffers, which contribute to the persisted pricing pressure,
Lowe said, "if that continues to be a case, inflation will
likely stay with higher interest rates."
Export-reliant miners rose about 2.8% as Dalian iron
ore futures climbed after the Chinese city of Zhengzhou said it
would start building stalled housing projects, offering some
relief to markets worried about weak steel demand in China.
Mining heavyweights Rio Tinto, BHP Group
and Fortescue Metals gained between 1.8% and 5.1%.
Tech stocks advanced 3.2%, benefiting from the
mildly dovish comments made by the top central banker and
tracking the technology-heavy Nasdaq.
Cloud services provider Megaport led gains on the
sub-index with a 12.8% jump, while battery maker Novonix
rose 11.7% and payments solutions provider EML Payments
Among individual stocks, payments platform Tyro
soared 31.5% to a more than four-month high after rejecting an
unsolicited takeover offer from private equity firm Potentia
Capital Management and a group of investors.
Link Administration jumped 6.3% after the
Australian competition regulator said it would not oppose a
A$2.47 billion buyout proposal for the registry firm from
Canadian firm Dye & Durham.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50
index rose 1.1% to 11,677.93.
(Reporting by Riya Sharma in Bengaluru; Editing by Subhranshu