Aug 4 (Reuters) - Australian shares hit their highest level in around two months on Thursday, tracking global sentiment on upbeat economic data and U.S. corporate earnings, with gains from banking and technology stocks countering losses from the resources sector.

The S&P/ASX 200 index was up 0.7% at 7021.1, as of 0030 GMT, scaling to its highest since June 9. The benchmark closed 0.3% lower on Wednesday.

Risk appetite across geographies improved after economic data from the United States indicated easing of supply bottlenecks and price pressures.

Geopolitical tensions soothed after U.S. House of Representatives Nancy Pelosi wrapped up a brief visit to Taiwan, further supporting investor confidence.

Elsewhere, Japan's Nikkei rose 0.9%, while S&P 500 E-minis futures fell 0.05%.

Domestic technology stocks led the gains in the benchmark, adding more than 2% as they tracked an overnight rally on Wall Street.

Sector majors ASX-listed shares of Block Inc soared more than 10%, while Xero Ltd climbed 2.8%.

Financials added 1% with all of the "Big Four" banks trading in positive territory.

Commonwealth Bank of Australia raised its home loan variable interest rates by 50 basis points per annum, matching the central bank's rate hike earlier this week.

The miners and mining sub-index inched lower with heavyweight BHP Group, Rio Tinto and Fortescue Metals Group shedding between 0.7% to 1.6%.

Energy stocks slumped more than 1%, after oil prices slid overnight following U.S. data that showed crude and stockpiles unexpectedly surged last week.

Heavyweights Santos and Woodside Energy Group fell 0.9% and 1.7%, respectively.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.6% to 11,774.81.

(Reporting by Jaskiran Singh in Bengaluru; Editing by Sherry Jacob-Phillips)