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25 March
Miners, healthcare firms push Australia stocks higher

March 25 (Reuters) - Australian shares closed higher on Monday, helped by gains in miners and healthcare firms, while investors keenly await domestic inflation data due later this week for further cues on the country's central bank's view on interest rate cuts.

The S&P/ASX 200 index .AXJO closed 0.5% higher at 7,811.90 points. The benchmark ended 1.3% higher last week.

Focus will also be on U.S. core personal consumption expenditure data for the fourth quarter on Friday. The Australia inflation data for February is expected on Wednesday.

"Local monthly inflation indicator is expected to pick up as weaker currency and rising oil adds to the fuel. We don't think it matters to Reserve Bank of Australia due to the excessive debt in the economy," said Mathan Somasundaram, CEO at Deep Data Analytics.

"They will ignore it till it becomes a big problem."

In Sydney, heavyweight miners .AXMM advanced 0.7% to log their highest level in more than two weeks, after copper prices rebounded. MET/L

Mining trio Rio Tinto RIO.AX, BHP Group BHP.AX and Fortescue FMG.AX rose between 0.2% and 3.7%.

Healthcare firms .AXHJ gained 1%, the highest in two weeks. Top firms in the sector such as CSL CSL.AX, Sigma Healthcare SIG.AX and Cochlear COH.AX rose 1%, 2.5% and 1.7%, respectively.

"Local bond yields falling below 4% has helped healthcare outperform," Mathan added.

Real estate firms .AXRE jumped 1.8%, closing higher for a third-straight session. Sector majors Goodman Group GMG.AX and Dexus DXS.AX rose 3.7% and 1.4%, respectively.

Meanwhile, Australia's government will support a minimum wage increase in line with inflation this year as low-income families continue to grapple with costs of living.

New Zealand's benchmark S&P/NZX 50 index .NZ50 closed 0.7% higher at 12,067.03 points.

(Reporting by Megha Rani in Bengaluru; Editing by Shounak Dasgupta)

((Megha.Rani2@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.