Australia shares hit over a month-high on mining boost; RBA minutes in focus

Goodman

22/12/2025 23:58

Dec 23 (Reuters) - Australian shares rose on Tuesday, led by mining stocks as underlying commodity prices firmed, while investors awaited the central bank's December meeting minutes due later in the day for clues on its monetary policy stance next year.

The S&P/ASX 200 index .AXJO gained 0.4% to hit 8,735.9 points by 2325 GMT. The benchmark had climbed to its highest in over five weeks during the session.

Miners .AXMM rose 0.4%, paring gains after briefly touching another record high, as iron ore prices strengthened on tight supply of BHP's BHP.AX Jimblebar and Jingbao fines, while copper prices traded at record levels. IRONORE/ MET/L

Shares of BHP were up 1.3%, while Anglo-Australian peer Rio Tinto RIO.AX gained as much as 1.4% to touch a fresh peak.

The mining sub-index, which underperformed the benchmark in 2024, is now on track to add nearly 40% this year. It received support from its gold-producing constituents amid a bullion rally that helped more than double local gold stocks' .AXGD value this year. GOL/

On the central bank front, minutes from the Reserve Bank of Australia's December policy meeting will be scrutinized by investors looking to gauge the trajectory of its policy for the year ahead. The minutes are expected to be released at around 0030 GMT.

Markets are pricing a near 30% chance of a quarter-point rate hike at its February meeting. 0#AUDIRPR

Meanwhile, shares of data centre landlord Goodman Group GMG.AX soared 6.9% to hit their highest level since early November, after the data centre landlord signed an A$14 billion ($9.32 billion) partnership with the Canada Pension Plan Investment Board to develop data centre projects in Europe.

Goodman's moves propelled the real estate sub-index .AXRE up 2.4%.

Heavyweight financials .AXFJ gained 0.2%, on track for a fourth consecutive session of gains. Top lender Commonwealth Bank of Australia CBA.AX rose 0.6%.

New Zealand's benchmark S&P/NZX 50 index .NZ50 gained 0.2% to 13,530.44 points.

($1 = 1.5017 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru; Editing by Alan Barona)

 ((Nichiket.Sunil@thomsonreuters.com))