Australian shares unchanged ahead of cenbank expected 50 bps rate hike



July 5 (Reuters) - Australian shares drifted within a tight range on Tuesday as investors took a cautious stance ahead of a Reserve Bank of Australia (RBA) meeting where investors are widely expecting a rise in the key cash rate by half a percentage point.

The S&P/ASX 200 index .AXJO was up about nine points at 6,622.00 by 0050 GMT. The benchmark had gained 1.1% on Monday.

The RBA is likely to raise its key policy rates by 50 basis points, according to a Reuters poll, in an effort to temper down inflationary pressures, matching the U.S. Federal Reserve's 75 basis point hike in mid-June.

"We look for the RBA to repeat June's comment that the board expects to take further steps in the process of normalising monetary conditions," analysts from Australia and New Zealand Banking Group ANZ.AX said in a research note.

The Australian central bank's policy meeting outcome is due at 0500 GMT on Tuesday.

Energy stocks strengthened 1% as concerns of a tightening supply of crude outweighed fears of a looming global recession, with sector heavyweights like Woodside Energy WDS.AX and Santos Ltd STO.AX climbing 1.3% and 1% respectively.

Miners rose 0.8% despite a fall in iron ore prices.

Index majors like Fortescue Metals Group FMG.AX and BHP Group Ltd BHP.AX gained 0.4% and 0.5% respectively.

Separately, Guinea's government has ordered all work related to the Simandou iron ore mine project — in which Rio owns about 4% stake — to be halted after parties involved in the project missed a deadline to agree on a joint venture.

Financials were the laggards for the day, with three out of the "Big Four" banks dropping 0.9%-1.3%.

Domestic technology .AXIJ and healthcare .AXHJ shares rose 1.5% and 0.7%, respectively.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat.
Reporting by Archishma Iyer in Bengaluru; editing by Uttaresh.V

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明