Feb 2 (Reuters) - Australian shares extended gains on Wednesday, as strong commodity prices lifted mining and energy stocks, a day after the country's central bank pushed back hard on market wagers for an early interest rate hike.
The S&P/ASX 200 index (.AXJO) was up 1.2%, or 83.4 points, at 7,089, as of 1230 GMT. The benchmark closed 0.5% higher on Tuesday.
The Reserve Bank of Australia said on Tuesday it was in no hurry to raise interest rates but ended its A$275 billion bond-buying programme, thereby raising speculations of a earlier-than-expected policy rate hike. read more
Mining stocks (.AXMM) were set for their best day since Jan. 20, benefiting from a surge in copper and gold prices, with heavyweights Rio Tinto Ltd (RIO.AX) and BHP Group Ltd (BHP.AX) climbing 2.5% and 2.1%, respectively.
Gold explorers (.AXGD) also notched gains, with Newcrest Mining Ltd (NCM.AX) and Northern Star Resources Ltd (NST.AX) rising more than 1.5% each.
Energy shares (.AXEJ) climbed 2.3% to a nearly two-week high, despite no heavy changes in oil prices. Major oil and gas explorers Woodside Petroleum Ltd (WPL.AX) and Santos Ltd (STO.AX) advance 2.8% and 2.4%, respectively.
Shares of information technology firms (.AXIJ) edged higher and were set for the fourth straight session of gains, tracking a strong overnight finish at the Nasdaq Composite (.IXIC).
Xero Ltd (XRO.AX) and ComputerShare Ltd (CPU.AX) advanced about 1.3% and 3.4%, respectively.
Heavyweight financials (.AXFJ) gained 0.8%, with Commonwealth Bank of Australia (CBA.AX), Westpac Banking Corp (WBC.AX), Australia and New Zealand Banking Group (ANZ.AX) and Macquarie Group (MQG.AX) trading up between 0.7% and 1.5%.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index (.NZ50) rose 1.3% or 166.5 points to 12,225.43.
Shares of Mainfreight Ltd (MFT.NZ) surged as much as 7.1% after the supply chain logistics firm provided a strong trading update.
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