Sept 28 (Reuters) - Australian shares edged higher for a
second straight session on Wednesday, as strong commodity prices
lifted miners and energy stocks, even as some investors remained
on the sidelines about a potential global recession.
The S&P/ASX 200 index was up 0.2%, as of 0014 GMT.
The benchmark closed 0.4% higher on Tuesday.
Still, markets globally were weighed down by hawkish
comments from the Fed president of St. Louis and Chicago who
made case for the U.S. central bank to have more rate hikes and
increase interest rates by another percentage point this year,
fuelling worries about global recession.
Australian energy stocks led the gains on the
domestic benchmark with a 2.5% jump, as supply curbs in the U.S.
Gulf of Mexico ahead of Hurricane Ian lifted oil prices.
Oil and gas major Woodside Energy and Santos
advanced 3.5% and 0.9%, respectively.
Miners added 1.5% as iron ore futures rose after top
steel producer China resumed ramping up output to cash in on
increased construction activity.
Sector majors BHP and Rio Tinto advanced
2.2% and 1.3%, respectively.
The technology sub-index tracked a sharp drop in its
Wall Street peers and slipped 0.6%.
Software company Megaport slumped nearly 2% to lead
the laggards in the sub-index, while ASX-listed shares of Block
Inc gained 0.9%.
Gold edged lower with Newcrest Mining, the
country's largest gold miner, falling 0.6%.
Healthcare stocks slipped 1% to be the top
percentage losers. Telix Pharmaceuticals tumbled up to
14.1%, their sharpest drop since mid-March, after the
Australia-based drugmaker withdrew its application to market its
prostate cancer imaging product, Illuccix, in Europe.
New Zealand's benchmark S&P/NZX 50 index rose 0.3%
to 11251.52 points.
(Reporting by Navya Mittal in Bengaluru; Editing by Sherry