By Oliver Gray
Investing.com - The S&P/ASX 200 added 24.1 points or 0.3% to 7,325.6 during Monday’s session, extending gains of 1.8% in the previous week as investors cheered further easing of COVID restrictions in China ahead of Tuesday’s local interest rate decision.
Among stocks, gains were led by Energy, finishing 1.5% higher amid higher crude oil prices. Woodside Energy Ltd (ASX:WDS) added 2%, Santos Ltd (ASX:STO) gained 2.7%, Beach Energy Ltd (ASX:BPT) lifted 5.3% and South32 Ltd (ASX:S32) rallied 3.6%.
Materials added 1.4% collectively amid rising iron ore prices as Rio Tinto Ltd (ASX:RIO) surged 3.7%, BHP Group Ltd (ASX:BHP) added 2.3%, Fortescue Metals Group Ltd (ASX:FMG) gained 6.9% and Champion Iron Ltd (ASX:CIA) lifted 2.2%.
On the bond markets, Australia 10-Year rates were at 4-month lows of 3.37% while United States 10-Year yields were at 3.532%
In New Zealand, the NZX 50 added 0.3% to 11,677.8.