FSMNews

Australia stocks edge higher during the course of Monday’s session, boosted by rising shares in the sectors of Metals & Mining, Materials and Resources.

The S&P/ASX 200 climbed by about 1.86%, hitting a fresh 1-month high after the market closed in Australia.

Among the best performers amid S&P/ASX 200 session were Iluka Resources Ltd, which has seen an 11.38% increase or 0.735 points to changed hands at 7.195 in late trade. Whitehaven Coal Ltd rose 7.57% or 0.105 points to settle at 1.460 and Independence Group NL climbed 6.75% or 0.255 points to end at 4.035 at the close.

Primary Health Care Ltd is one of the worst performers of the session, which has seen a 2.88% drop or 0.110 points to changed hands at 3.710 in late trade. Mesoblast Ltd lost 2.85% or 0.033 points to settle at 1.107 and Oil Search Ltd declined 1.01% or 0.070 points to end at 6.880 at the close.

Advancing stocks outnumbered dropping ones on the Australia Stock Exchange with a range between 751 to 350 and 310 remained unchanged.

FSMNews

Meanwhile, Whitehaven Coal Ltd stocks have seen shares rallying to 52-week highs, which was up by 7.75% or 0.105 to end at 1.460.

The S&P/ASX 200 VIX, which gauges the implied volatility of S&P/ASX 200 options, declined 3.70% to settle at 17.402.

Gold delivery for August rose 0.34% or 4.60 to end at $1363.00 a troy ounce. In commodities trading, August crude oil lost about 0.57% or 0.26 to end at $45.15 a barrel, while the Brent oil contract for September dropped 0.45% or 0.21 to changed hands at $46.55 a barrel.    

AUD/USD lost about 0.17% to 0.7559, while AUD/JPY rallied 0.76% to 76.70.

The US Dollar Index rose 0.18% at 96.48.

Asian Shares Gains on Australia Poll Results

Shares in Asia advanced during Monday’s session, led by Tokyo as investors remained positive on Japan’s upper house poll results as there were signs of economic and political reforms by the coalition government headed by Prime Minister Shinzo Abe.

FSMNews

Meanwhile, Japan’s Nikkei index climbed 3.83% as exit poll results suggest that the government aims at mounting the upper house.

The S&P/ASX 200 has also seen a 1.68% increase, as Liberal Party-Leader and Prime Minister Malcolm Turnbull called for victory after a tight election fight, allowing him to flag a coalition. The Shanghai Composite added 0.91%.    

China’s currency traded weaker at 6.6871, compared with the PBOX, which settled at 6.6871.

Elsewhere in Australia, May home loans data has seen a 1.0% drop, which posted below the 2.0% decline witnessed in May month-on-month. Housing finance figures recorded 3.9% gains for the same month, regaining earlier declines of 5.0% in April.

Japan’s May core machinery orders sharply decline by 11.7%, slumping more than earlier losses of 8.7% year-on-year. 

Subscribe to FSM News daily newsletter to receive reliable updates every day and stay updated with the latest news.