Australian shares extend gains as miners lead recovery; rate hike in focus

Mar 11, 2026, 13:24 GMT+7
Key points:

• ASX 200 closes higher for second session
• Miners rise 2.2%, banks gain nearly 1%
• Swaps price 70% chance of rate hike
• NZX 50 index ends session 1.5% higher

By Keshav SinghChundawat
Reuters - Australian shares rose for a second consecutive session on Wednesday, clawing back some losses from a conflict-driven selloff earlier this week, led by miners as investors weighed the chances of an interest rate hike next week.
The benchmark S&P/ASX 200 indexended 0.6% higher at 8,743.50 points, after closing 1.1% higher on Tuesday. The benchmark has lost roughly 5% so far this month, dominated by the U.S.-Israeli war with Iran.
With the Middle East conflict in its second week, volatility in the market hasn't abated, with few large movers in the resource sector keeping the market positive, said Jamie Hannah, deputy head of investments and capital markets at VanEck Australia.
"In the short term, we are just going to continue to see volatility. But it could be prudent for the RBA (Reserve Bank of Australia) to act sooner rather than later," added Hannah.
The central bank will meet next week, when its policy board will decide whether to raise or hold the cash rate at 3.85%.
Swaps are now pricing in nearly a 70% chance of a 25-basis-point hike, up sharply from below 30% last week, underscoring market uncertainty over the Middle East conflict's inflationary impact.
A growing number of economists, including from top lenders Westpacand NAB, are pencilling a rate hike next week following an inflation warning from a senior central bank official.
Australian minersadvanced 2.2%. Shares of Fortescueclimbed 3.7% in their best session in two weeks, while Rio Tintoand BHP Groupadded 1.1% and 1.4%, respectively.
The gold sub-indexgained 1.5% as bullion prices rose, with a retreat in oil prices easing inflation worries.
Financialsclimbed 0.9%, while energy stockseked out modest gains, rising 0.6%.
Among the laggards, healthcareand local technology stocksfell 1.4% and 1.6%, respectively.
In New Zealand, the benchmark S&P/NZX 50 indexclosed 1.5% higher at 13,293.13 points, its best session since February 18.

Sumber : Reuters