Dec 28 (Reuters) - Australian shares rose on Wednesday, lifted by commodity-related stocks, as underlying commodity prices rallied after China decided to relax its COVID-19 restrictions.
The S&P/ASX 200 index rose 0.1% to 7,114.10 points by 2314 GMT, after shedding 0.6% on Friday. The market was closed for public holidays on Dec. 26 and Dec. 27.
The benchmark index received a boost from China's move to stop requiring inbound travellers to go into quarantine starting Jan. 8, a major step towards easing its COVID-19 containment policy that has curbed industrial activity and domestic demand, and ignited public unrest last month.
Domestic gold stocks added about 1.7% after gold prices jumped to their highest level in six months.
Sector heavyweights Newcrest Mining and Northern Star Resources gained 2% and 1.7%, respectively.
Miners advanced about 0.7% after iron ore prices rose, with sector majors Rio Tinto, BHP Group, and Fortescue gaining between 0.9% and 1.5%.
Energy stocks jumped about 1.1% after oil prices hit a three-week high in early trade due to hopes of demand recovery.
Tech stocks fell 0.3%, chasing the drag on Wall Street as rising Treasury yields dampened sentiment. ASX-listed shares of Block Inc gave up 1.1% and Megaport fell 0.6% .
Financials fell about 0.1%, with the "Big Four" banks losing 0.1%-0.5%.
Meanwhile, renewable energy firm Genex Power was eyeing its worst day in over three years after a consortium led by Atlassian co-founder Scott Farquhar withdrew its buyout bid for the company.
In New Zealand, the benchmark S&P/NZX 50 index rose 1% to 11,510.58 points. (Reporting by Nausheen Thusoo in Bengaluru; editing by Uttaresh.V)
