The S&P/ASX 200 index was up 0.6% at 7,167.5 points by 0020 GMT. The benchmark has risen over 3% so far this week, and is set to post its biggest weekly jump since November 2022.
Mining shares gained 2% to hit three-week high. The sub-index is on track for its biggest weekly jump since early-November, underpinned by higher iron ore prices.
BHP Group and Fortescue Metals Group rose up to 2.6%. Mining giant Rio Tinto Ltd jumped 1.7% after saying it will partner with Canada's First Quantum Minerals Ltd to develop the La Granja copper project in Peru. Gold stocks also notched gains, helped by a jump in bullion prices. Shares of Northern Star and Newcrest Mining rose 2.2% and 1.7%, respectively. Shares in HMC Capital fell 2.7% on returning to trade after the asset manager said it will buy 11 private hospitals from U.S.-based Medical Properties Trust for A$1.20 billion ($802.08 million). Meanwhile, technology shares tracked overnight gains on Wall Street. ASX-listed shares of Block Inc and Xero rose 3.5% and 1%, respectively.
Healthcare stocks and real estate companies added between 0.3% and 0.7%.
Financials also gained, with Commonwealth Bank of Australia inching 0.2% higher. Investors now eye the Reserve Bank of Australia's (RBA) policy meeting next week. The Commonwealth Bank of Australia expects the central bank to pause rate hikes.
New Zealand's benchmark S&P/NZX 50 index fell 0.4% to 11,881.4 points. (Reporting by Rishav Chatterjee in Bengaluru; editing by Uttaresh Venkateshwaran)
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