Meanwhile, United Malt Group Ltd jumped nearly 35% after it received a A$1.50 billion ($998 million) non-binding offer from Malteries Soufflet, a branch of French agribusiness InVivo. Energy stocks added 3.4% on stronger oil prices. Sector majors Woodside and Santos gained 3.8% and 2.7%, respectively. Miners rose on receiving a boost from higher commodity prices. BHP Group and Rio Tinto added between 0.9% and 1.6%.
Fortescue Metals said it would delay initial production at its Iron Bridge Project in Pilbara to the second half of April. Fortescue shares were up 2.1%.
Gold stocks declined 1.4% after bullion prices slid. Newcrest Mining fell 0.3%.
Banks gained 1.1% after global financial stocks had a respite as a deal for Silicon Valley Bank's assets improved sentiment. The "Big Four" banks rose up to 1.1%.
Shares of local contractor Downer EDI climbed 0.6% after the company appointed a new finance chief amid board reshuffle. New Zealand's benchmark S&P/NZX 50 index jumped 0.5% to 11,673.2 points. ($1 = 1.5015 Australian dollars) (Reporting by Rishav Chatterjee in Bengaluru; editing by Uttaresh Venkateshwaran)
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