Australian equities gain on tech boost, set for marginal weekly gain

Australian shares rose on Friday, led by financials and technology stocks, according to Business Recorder, even as traders weighed an anticipated rate increase as early as next month. The S&P/ASX 200 gained 0.3% to 9,068.90 points by 0058 GMT, having dropped 1% on Thursday. That earlier decline followed hotter-than-expected inflation figures, and the index remains on course for a modest 0.1% rise over the week.

Market pricing now points to a better-than-even chance of a September rate hike by the Reserve Bank of Australia, according to LSEG data. That compares with 16% before the Wednesday inflation print. Rate-sensitive financials rose 0.6%, while real estate fell 0.5%, and the big four banks gained between 0.5% and 0.8%.

Technology stocks climbed as much as 5.2%, their strongest day in a month, following Nvidia's strong revenue forecast. Energy and healthcare also advanced, while staples slipped 0.8% as Wesfarmers lost 0.3%. In New Zealand, the S&P/NZX 50 rose 0.2% to 13,916.69, with Air New Zealand up as much as 3.9% after a smaller-than-expected annual loss.