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Australian shares hit record high as banks and miners gain



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July 15 (Reuters) -Australian stocks rose to an all-time high on Monday, helped by gains in index heavyweights banks and miners, while New Zealand shares inched lower ahead of second-quarter inflation data due later this week.

The S&P/ASX 200 index .AXJO was up 0.9% at 8,028.1, as of 0031 GMT, after rising to a record high of 8,031.7 earlier in the session. The benchmark had closed 0.9% higher on Friday.

Rate-sensitive financials .AXFJ climbed 0.9%, extending gains to a fifth session. The "Big Four" banks rose between 0.5% and 1%.

Miners .AXMM gained 0.7% on the back of improving copper prices. BHP Group BHP.AX and Rio Tinto RIO.AX rose 0.9% and 0.4%, respectively, ahead of their quarterly production results later in the week. MET/L

Energy stocks .AXEJ advanced 0.9%, with Woodside Energy WDS.AX and smaller rival Santos STO.AX up 1% and 0.6%, respectively.

Healthcare stocks .AXHJ climbed 1.1% to hit the highest level since early January 2022. Biotech giant CSL CSL.AX and Ramsay Health Care RHC.AX rose more than 1% each.

Technology stocks .AXIJ advanced 0.9%, tracking gains in their Wall Street peers on Friday. Xero XRO.AX and WiseTech Global WTC.AX rose 0.5% and 1.3%, respectively. .N

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.1% to 12,120.67, with investors awaiting the key consumer price index report due on Wednesday for further monetary policy cues.

Last week, the Reserve Bank of New Zealand held the cash rate steady, but opened the door to monetary policy becoming less restrictive over time should inflation slow as expected.



Reporting by Roshan Thomas in Bengaluru; Editing by Subhranshu Sahu

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