Australian shares hit record high as mining and energy stocks gain
Sept 30 (Reuters) -Australian shares rose to an all-time-high on Monday, as miners extended gains on fresh stimulus measures announced by top trade partner China and energy stocks jumped on increasing concerns of potential supply disruptions from the Middle East.
The S&P/ASX 200 index .AXJO rose 0.6% to 8,263.40 by 0045 GMT, with most major sectors trading in the positive territory. The index surpassed the previous life high of 8,246.20 touched earlier this month.
China's central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans by the end of October to support the country's beleaguered property market.
This follows a series of monetary, fiscal and liquidity support measures announced last week in China's biggest stimulus package since the pandemic.
In Australia, investors awaited the August retail sales report, due on Tuesday, for more clues on the central bank's interest rate outlook.
Last week, the Reserve Bank of Australia kept its cash rate steady while maintaining a hawkish stance.
Energy stocks .AXEJ rose as much as 2.5% as oil prices inched higher on Middle East supply risks. Sector major Woodside Energy WDS.AX and Santos .STO gained 2.8% and 1.8%, respectively. O/R
Miners .AXMM climbed 1.8% to their highest in more than three months and were on track for a fifth straight session of gains. Rio Tinto RIO.AX and BHP BHP.AX rose 1.9% and 2.7%, respectively. IRONORE/
Financials .AXFJ rose 0.4%, with the "Big Four" banks up between 0.4% and 0.8%.
Gold stocks .AXGD declined 2% despite higher bullion prices, with Northern Star Resources NST.AX and Evolution Mining EVN.AX down 1.6% and 2.1%, respectively.
On Friday, the Dow Jones Industrial Average .DJI rose 0.33%, the S&P 500 .SPX lost 0.13%, and the Nasdaq Composite .IXIC lost 0.39%.
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 inched 0.1% higher to 12,471.83.
Fonterra FCG.NZ shares rose over 3% to hit a more than three-year high as the dairy firm upgraded its dividend payout policy.
Reporting by Ayushman Ojha in Bengaluru; Editing by Subhranshu Sahu
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