Australia: Shares rise on tech, resources boost; Afterpay jumps

[BENGALURU] Australian shares rose on Wednesday, boosted by technology stocks as Afterpay received an approval for its takeover, with a jump in resource-related shares on strong commodity prices offering support.

The S&P/ASX 200 index advanced nearly 1 per cent to 7,390.1 by 2357 GMT, with gains seen across sectors.

Buy now, pay later darling Afterpay added 6.8 per cent to eye its best day since Dec 22 after saying its US$29 billion buyout by payments firm Block Inc got a nod from the Bank of Spain, making the deal fully unconditional.

That lifted other technology stocks, lifting the sub-index 2.5 per cent

Gold shares jumped over 2.7 per cent in its best single-day jump since Dec 17 after bullion prices climbed. The gold index was one of the best performers on the benchmark.

Gold miners Northern Star Resources Ltd added 3.9%, while Evolution Mining Ltd climbed 4.4 per cent.

Energy stocks rose as much as 2.2 per cent to hit their highest level since Nov 8, on the back of solid crude prices.

Miners also climbed, about 1.8 per cent, and were on track for their fourth straight day of gains and a near five-month high. Robust iron ore and metal prices boosted the sector.

Global mining giants BHP group and Rio Tinto rose 1.7 per cent and 1.2 per cent, respectively.

Lithium miner Liontown Resources surged about 13 per cent to be one of the top gainers on the benchmark after signing a supply deal with the battery unit of South Korea's LG Chem.

Banking and financial stocks were up 0.6 per cent, with the"Big Four" banks gaining 0.6 per cent to 0.7 per cent.

New Zealand's benchmark S&P/NZX 50 index traded up 0.1 per cent to 12,847.87 points, with payments platform Pushpay Holdings rising 4.1 per cent.

In other markets, the tech-heavy Nasdaq gained 1.4 per cent, while the S&P 500 E-minis futures were largely muted.

REUTERS