Australia stock market finished session notably higher on Friday, 09 June 2023, registering first gain in four consecutive days, as bargain buying resumed on tracking positive cues from Wall Street overnight, reflecting expectations for slowing U.S. interest rate hikes amid more than expected initial jobless claims data. Most of ASX sectors advanced, led by shares of tech, materials, and consumer discretionary issues. Energy stocks were weak amid tumbling crude oil prices.
At closing bell, the benchmark S&P/ASX200 index was up 22.84 points, or 0.32%, to 7,122.50. The broader All Ordinaries index advanced 24.02 points, or 0.33%, to 7,312.30.
The top performing stocks in the S&P/ASX 200 Index were NICKEL INDUSTRIES and IMUGENE, up 13.29% and 7.53% respectively. The bottom performing stocks in S&P/ASX200 index were JOHNS LYING GROUP and HEALIUS, down 4.05% and 3.38% respectively.
Information technology stocks advanced on the back of optimism on Wall Street's technology-heavy Nasdaq composite overnight. WiseTech (up 2.6%), Xero (up 2.7%) and data centre operator NEXTDC (up 0.3%) all climbed.
Shares of materials and resources gained as the iron ore price climbed 12.2% overnight. Gold companies Evolution Mining (up 1.5%) and Northern Star (up 1.6%) were among the biggest large-cap advancers as the spot gold price increased 1.2%. Lithium players Pilbara Minerals (up 0.6%), Liontown (up 2.2%) and Allkem (up 1.2%) also advanced.
Shares of energy companies declined as Brent crude oil prices dropped 1.3%. Heavyweights Woodside (down 0.2%) and Santos (down 0.7%) declined. Coal miners Yancoal (down 0.2%) and Whitehaven (down 1.2%) also edged down.
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