Meanwhile, Australia’s ASX 200 Index rose 1.29% on Monday, paring Friday’s losses. While gains were broad-based, the biggest contributions came from technology and banking stocks.
Falling US government bond yields boosted demand for high-yield Australian banks, with the Commonwealth Bank of Australia rising 2.26%. The S&P/ASX All Technology Index followed Friday’s Nasdaq gains, rising 1.38%.
Meanwhile, gold stock Northern Star Resources (NST) benefited from higher gold prices, rising 0.95%.
Outlook
As markets approach the holiday season, volatility may persist, with a number of key events to take into account. The upcoming RBA meeting minutes, the Bank of Japan’s Summary of Opinions, stimulus-related updates from China and US rate developments will influence market sentiment.
Moreover, US economic figures remain an important driver. Traders must keep an eye on global economic trends and trade developments to navigate the changing landscape.
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