Australian shares gain, boosted by banks, gold stocks; local inflation data awaited
Nov 27 (Reuters) -Australian shares climbed on Wednesday, boosted by financials and gold stocks ahead of the local inflation print, while equities in New Zealand declined ahead of its central bank's interest rate decision later in the day.
Australia's S&P/ASX 200 index .AXJO rose 0.5% to 8,401.3 points, as of 2310 GMT. The benchmark had ended the last session 0.7% lower.
Investors awaited the country's consumer price index data for October, due at 0030 GMT, for more insights into the Reserve Bank of Australia's (RBA) near-term interest rate trajectory.
In October, inflation slowed to a 3-1/2 year low in the third quarter, even asthe core measure remainedsticky.
Among sub-indexes, financials .AXFJ gained as much as 0.9%, with the "Big Four" banks advancing between 0.7% and 1.1%.
Gold stocks .AXGD rose as much as 1.8%, with gold miners Evolution Mining EVN.AX and Northern Star Resources NST.AX gaining 1.3% and 2.7%, respectively.
Gold XAU=, however, traded flat at $2,631.10.
Technology stocks .AXIJ rose as much as 0.9%, tracking overnight gains in their Wall Street peers. .N
Following the trend, health care stocks .AXHJ added 0.6%.
Energy stocks .AXEJ inched 0.2% higher, while miners .AXMM were flat.
Overnight, the U.S. Dow Jones Industrial Average .DJI rose 0.28% to 44,860.31 points. The S&P 500 .SPX and Nasdaq .IXIC gained 0.57% and 0.63%, respectively.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 traded 0.6% lower at 13,113.8 points.
The Reserve Bank of New Zealand is expected to lower interest rates by 50 basis points to support the economy, a Reuters poll showed, with economists predicting thatthe central bank would cut rates steadily next year. The decision is due at 0100 GMT.
Reporting by Sherin Sunny in Bengaluru; Editing by Sumana Nandy
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