A bounce in real estate stocks and renewed optimism around Chinese economic growth lifted the Australian sharemarket on Monday, with the benchmark ASX 200 closing in on record highs.
Ten of 11 sectors on the ASX ended the day in the green, with rate-sensitive real estate stocks and positive sentiment around Chinese growth propelling the uplift.
The rate-sensitive real estate sector pushed the market higher with a 1.76 per cent gain, following by energy with a 1.13 per cent lift and health care with a 1.01 per cent rise. “If anything, they have become slightly more dovish and I think that has helped markets and that is why we are seeing real estate do well and those sort of rate sensitive sectors.
Real estate heavyweight Goodman Group jumped 3.83 per cent on Monday to hit $33.28 a share while Mirvac lifted 2.24 per cent to hit $2.28 a share and Lendlease rose 1.24 per cent to close at $6.54.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX shares: ASX to open lower, but no end to bull runAustralian shares are expected to open weaker on Monday, after finishing at a record last week. The S&P/ASX 200 has broken intraday records six times this year.
Read more »
ASX 200 LIVE: ASX to edge higher, RBA decision awaitedShares are set for a modest opening gain; techs pace Wall Street advance; Reserve Bank cash rate decision this afternoon; Kathmandu parent blames weak consumer sentiment for declining sales. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, Wall Street rallies broadly ahead of Federal Reserve policy statementAustralian shares are set to open higher after all three US benchmarks advanced. Nvidia erases early losses. Bitcoin slumps. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, S&P 500 resets record highASX futures add 0.6pc, Fed policymakers reiterate rates cut are approaching. $A rallies, bitcoin rebounds. Gold jumps. Follow updates here.
Read more »
SIG ASX: Chemist Warehouse records surging sales, profits ahead of ASX debutThe results were detailed in a financial update from Sigma Healthcare, with which it intends to merge. The deal still requires regulatory approval.
Read more »
ASX 200 LIVE: ASX to slip, US equities reset record highsShares are set to edge lower; US equities reset record highs; gold, oil ease; Reddit leaps on debut, while Apple slumps on lawsuit; ANZ sees iron ore floor. Follow updates here.
Read more »