By Oliver Gray
Investing.com - The S&P/ASX 200 added 47.40 points or 0.67% to 7,096.5, extending gains of 0.7% in the previous session as the Reserve Bank board held the official cash rate steady at its monthly meeting while trying to cool expectations of a widely expected rate hike, citing the war in Ukraine as a new source of uncertainty.
Among stocks, the Technology sector outperformed, finishing 5.66% higher. Block Inc (ASX:SQ2) surged 12.79%, Appen Ltd (ASX:APX) gained 7.71%, Megaport Ltd (ASX:MP1) added 5.4%, Novonix Ltd (ASX:NVX) lfited 7.95%, Brainchip Holdings Ltd (ASX:BRN) added 5.83%, Altium Ltd (ASX:ALU) climbed 4.1%, Xero Ltd (ASX:XRO) added 7.03% and Wisetech Global Ltd (ASX:WTC) gained 4.73%. Zip Co Ltd (ASX:Z1P) bucked the trend, falling 6.33%.
Financials lifted 1.02% collectively as Macquarie Group Ltd (ASX:MQG) gained 1.26%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) added 0.65%, National Australia Bank Ltd (ASX:NAB) lifted 1.49%, Westpac Banking Corp (ASX:WBC) gained 0.66% and Commonwealth Bank Of Australia (ASX:CBA) added 1.46%.
Materials were 0.3% lower overall as Rio Tinto Ltd (ASX:RIO) lost 0.3%, BHP Billiton Ltd (ASX:BHP) fell 0.24%, Fortescue Metals Group Ltd (ASX:FMG) dipped 2.15%, Champion Iron Ltd (ASX:CIA) added 2.8%, Pilbara Minerals Ltd (ASX:PLS) gained 3.32%, Arizona Lithium Ltd (ASX:AZL) added 8.7%, Lake Resources NL (ASX:LKE) lifted 6.08%, Magnis Resources Ltd (ASX:MNS) climbed 7.32%, Avz Minerals Ltd (ASX:AVZ) gained 8.28% and Piedmont Lithium Ltd (ASX:PLL) lifted 4.35%.
On the bond markets, Australia 10-Year rates were at 2.183% while United States 10-Year yields were at 1.859%.
In New Zealand, the NZX 50 gained 1.84% to 12,198.