Miners push Australian shares higher after upbeat China data

March 2 (Reuters) - Australian shares climbed on Thursday, led by mining and gold stocks on higher commodity prices, as better-than-expected manufacturing activity data in China spurred hopes of a rebound in demand, improving risk appetite. The S&P/ASX 200 index was up 0.4% at 7,280.70 points by 2351 GMT. The benchmark closed steady on Wednesday. Data released on Wednesday showed manufacturing activity in China, the world's top steel consumer, expanded at the fastest pace in more than a decade in February, exceeding analysts' forecast, helped by the removal of its stringent COVID-19 curbs. Investors will be awaiting the Reserve Bank of Australia's meeting next week, where markets are wagering that rates will keep climbing to peak around 4.35% in the middle of the year from current 3.35%. Australian miners, which rely heavily on exports to China, rose as much as 2.2% to a one-week high and were set for third session of gains.

Mining giants BHP Group , Rio Tinto , and Fortescue Metals Group gained between 2.3% and 2.8%. Gold stocks climbed 1.6% on stronger bullion prices, with Newcrest Mining and Northern Star Resources adding 2.5% and 3.3%, respectively. Energy stocks advanced 1.4%, with sector majors Santos and Woodside Energy gaining 0.6% and 1.6%, respectively. Among the laggards, financial stocks retreated 0.4%, although top lenders Commonwealth Bank of Australia and National Australia Bank gained 0.4% each. Technology stocks tracked their Wall Street peers lower, falling 0.7%, with Xero Ltd declining up to 1.7%. Healthcare stocks also traded in red, losing 0.5% to fall to their lowest levels since Jan. 18. Separately, Australia's competition regulator said it would probe a number of businesses for potential exaggeration of claims of environment-friendly investment and products, called greenwashing, after a review of 247 businesses found a concerning trend. New Zealand's benchmark S&P/NZX 50 index retreated as much as 0.4% to 11,830.24 points.

(Reporting by John Biju in Bengaluru; Editing by Sherry Jacob-Phillips)

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