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Australian shares rise on tech, miners boost; banks cap gains

08/30/2021 | 09:01pm EDT

Aug 31 (Reuters) - Australian shares rose slightly for a second straight session on Tuesday, led by mining and technology stocks, although the gains were capped by weakness in heavyweight banking stocks.

The S&P/ASX 200 index rose 0.1% to 7,510.3 by 0039 GMT, after having closed 0.2% higher on Monday.

Elsewhere, Japan's Nikkei fell 0.33%, while S&P 500 E-minis futures were up 0.1%.

Domestic technology stocks tracked a strong finish on Wall Street overnight after sentiment there was lifted from last week's dovish comments from the U.S Federal Reserve.

Buy now, pay later giant Afterpay Ltd added 1.3%, while aerial imagery firm Nearmap Ltd rose 1.9%.

A sub-index of miners added 0.5%, with global miner Rio Tinto and rival BHP Group Ltd adding 0.4% and 0.3%, respectively.

Heavyweight financials dropped 0.5%, with all of the country's "Big Four" banks — Commonwealth Bank of Australia , National Australia Bank, Australia and New Zealand Banking Group and Westpac Banking Corp — shedding between 0.2% and 0.4%.

Healthcare stocks gained on a jump of 1% in CSL Ltd , the biggest company on the sub-index. Shares of the biotechnology company hit its highest since Nov. 25, 2020.

Meanwhile, COVID-19 cases in Australia continued to rise, with New South Wales — the epicentre of the country's current outbreak — declaring a record 1,290 new cases on Monday. Its premier Gladys Berejiklian said intensive care cases in the state will hit a peak in October.

In New Zealand, the benchmark S&P/NZX 50 index was up 0.3% at 13,226.55, with healthcare and utility stocks leading gains in the region.

SKY Network Television Ltd added 4.6% to hit its highest since April 19. The stock was also the top gainer on the benchmark index. (Reporting by Harish Sridharan in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 3.30% 126.64 End-of-day quote.7.32%
BHP GROUP 0.74% 38.21 End-of-day quote.-9.95%
COMMONWEALTH BANK OF AUSTRALIA -0.34% 105.1 End-of-day quote.28.00%
CSL LIMITED 0.14% 296 End-of-day quote.4.53%
NATIONAL AUSTRALIA BANK LIMITED 0.56% 28.9 End-of-day quote.27.88%
NEARMAP LTD 0.93% 2.18 End-of-day quote.-1.80%
NIKKEI 225 -0.03% 29098.24 Real-time Quote.4.96%
S&P 500 0.18% 4574.79 Delayed Quote.21.00%
S&P/ASX 200 0.07% 7448.7 Real-time Quote.12.58%
SKY NETWORK TELEVISION LIMITED -4.17% 1.84 End-of-day quote.14.29%
WESTPAC BANKING CORPORATION 0.31% 25.79 End-of-day quote.33.14%
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