Feb 3, 2026, 13:19 GMT+7
Key points:
- AXJO rebounds to rise 1.1%
- Gold stocks jump 2%, miners add 1.6%
- RBA delivers widely expected 25 bps hike
By Shruti Agarwal
Reuters - Australian shares rebounded from a three-week low on Tuesday, driven by gold and base metal miners, with investors firmly pricing in the beginning of a tightening cycle following a widely anticipated quarter-point interest rate hike.
The S&P/ASX 200 indexended 0.9% higher at 8,857.10 points, its best session since mid-November, after finishing at its lowest since January 12 the previous day.
Gold minersjumped 2% as bullion rebounded following a sharp selloff on Monday triggered by Kevin Warsh's nomination as the next Federal Reserve chair and higher margin requirements at CME Group.
Top miners Northern Star Resourcesand Evolution Mininggained 1% and 4%, respectively.
That pushed the broader resources sub-index1.6% higher, with BHP Groupand Rio Tintoadding up to 2%.
Meanwhile, the benchmark slid a few points after the Reserve Bank of Australia raised the cash rate, but clawed back most losses by session-end.
Faster-than-expected economic growth and sticky inflation outlook prompted investors to ramp up their May hike bets to 80%. Markets expect an additional total tightening of 40 basis points this year.
"With the RBA entering a rate-hiking cycle, gains in share markets will be more uneven," Besa Deda, chief economist at accounting and advisory firm William Buck in Sydney, said.
Tim Waterer, chief market analyst at KCM trade, echoed the sentiment: "The higher interest rate environment in Australia relative to many other parts of the globe could leave stocks swimming against the tide and therefore, a potential underperformer."
Interest-rate-sensitive banking stocks gains marginally to end 0.8% higher, with the "Big Four" banks adding between 0.1% and 1.1%.
Real estate and consumer discretionary added 1% and 1.1%, respectively. Technology stocksrose 1.9%.
New Zealand's benchmark S&P/NZX 50 indexrose 0.1% to 13,421.52 points.
Sumber : Reuters
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