Gains among oil, LNG, iron ore and coal producers helped the S&P/ASX 200 to its highest close since December 1.
P/ASX 200 posted its seventh gain in eight days to reach a six-week high on Friday as rising commodity prices, China’s reopening, and optimism about cooling US inflation combined to support equity prices.
In Australia, the yield on 10-year government bonds fell 6 basis points to 3.53 per cent. Yields on 1-year Australian government bonds eased 4 basis points to 3.18 per cent, slightly ahead of the cash rate of 3.1 per cent.The best-performing sector on the sharemarket was energy, which finished up 1.5 per cent as benchmark crude oil futures fetched $US83.61 at the closing bell. Woodside shares firmed 1.2 per cent, with Santos adding 2.4 per cent.
Iron ore miner Fortescue Metals hit a 52-week high of $23.12 before retreating to close at $22.80. BHP shares, meantime, traded as high as $49.92 before giving back some gains to end the day up 0.5 per cent at $49.63. Overseas, the Bank of South Korea lifted its benchmark cash lending rate by a quarter percentage point to 3.5 per cent.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX to rise, Dow gains, bitcoin leapsAustralian shares are poised to open higher. Cooler US inflation bolstered US equities and commodities. $A surges towards US70¢.
Read more »
ASX LIVE: Australian shares to rise, Dow gains, bitcoin leapsAustralian shares are set to extend their advance. Cooler US inflation bolstered US equities and commodities. $A surges towards US70¢.
Read more »
ASX to rise, Wall Street higher on CPI positioningAustralian shares are set to gain, in line with a rally in New York as investors bet on cooling inflation. $A hovers near US69¢. Oil rebounds.
Read more »
ASX climbs 0.9pc, buoyed by iron ore, lithium stocksThe major miners advanced as iron ore futures held above US$120 a tonne. BHP jumped 1.5 per cent and Fortescue climbed 2.4 per cent.
Read more »
ASX LIVE: Australian shares are poised to open higherAustralian shares to open higher; US stocks rally ahead of December CPI data; $A advances; oil nears $US83 a barrel. Follow updates here.
Read more »
ASX rises 1.2pc to five-week high, buoyed by resources sectorThe S&P/ASX 200 Index rose 1.2 per cent to 7280.40. MA Financial sank 10.7 per cent to $4.42 and Fortescue Metals rose 2.8 per cent to $22.92.
Read more »