Australia shares hit near two-month high as banks shine

📆 10/13/2020 5:50 AM
📰 Reuters

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Australian shares hit a near two-month high on Tuesday, led by banking and technology stocks, as expectations that the United States would soon pass a coronavirus relief package lifted global equity markets.

FILE PHOTO: Pedestrians are reflected in a window displaying stock prices at the Australian Securities Exchange in Sydney, Australia, February 13, 2018. REUTERS/David GrayIn New Zealand, the main S&P/NZX 50 index gained 0.8% to hit an all-time high of 12,454.57.

Market participants are now waiting for China’s monthly export data due later in the day for further direction. Australian financial stocks climbed as much as 2.6% on Tuesday to hit a two-month high, with the “Big Four” banks adding between 1.5% and 3%. Whitehaven Coal slid 5.3% and was the biggest loser on the benchmark, while New Hope Corp dropped 5.6%.

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