By Oliver Gray
Investing.com - The S&P/ASX 200 added 45 points or 0.6% to 7,328.6 during Monday's trade, recovering from 7-week lows touched last week as interest rate sensitive sectors rallied amid easing bond yields as investors look ahead to a key interest rate decision from the RBA on Tuesday.
Among stocks, Information Technology and real estate outperformed, up 1.8% apiece as Block Inc (ASX:SQ2) gained 5.5%, Appen Ltd (ASX:APX) added 4%, Megaport Ltd (ASX:MP1) lifted 4.4% and Brainchip Holdings Ltd (ASX:BRN) popped 16.7%, while Mirvac Group (ASX:MGR) gained 2.3%, Goodman Group (ASX:GMG) added 2.1%, Charter Hall Group (ASX:CHC) lifted 1.8% and Stockland Corporation Ltd (ASX:SGP) added 1.6%.
Ahead in the week, market participants will be closely watching the RBA's interest rate decision, amid expectations of a 25 basis point rate hike. In addition, retail sales, trade balance and building approvals data will also be monitored as well as a speech from RBA Governor Lowe.
On the bond markets, Australia 10-Year rates were nearing 3-week lows of 3.774%.
In New Zealand, the NZX 50 added 43.7 points or 0.4% to 11,912.5.