ASX rises; miners, tech lead gains

Mining and technology shares have led early gains on the ASX, after a positive lead from US markets.

The S&P/ASX200 benchmark index was higher by 47.2 points, or 0.78 per cent, at 6091.4 points after the first 15 minutes of trade on Tuesday.

The All Ordinaries index was 49.1 points, or 0.8 per cent higher, at 6218.7.

The materials sector was higher by 2.39 per cent on the back of gold miners as prices of the precious metal hit record highs.

Information technology had a 1.07 per cent gain, taking the lead from Wall Street, while telecommunications rose 0.95 per cent.

Financials and energy were nearly flat.

In the US overnight, shares in Apple, Amazon.com, Facebook and Alphabet saw strong gains, which boosted markets.

Investors also weighed progress in US government stimulus efforts against rising COVID-19 cases in the country, with Senate Republicans racing to complete details of a $US1 trillion coronavirus aid proposal.

The Dow Jones Industrial Average rose 0.43 per cent, the S&P 500 gained 0.74 per cent while the Nasdaq Composite added 1.67 per cent.

Meanwhile, the Australian dollar was buying 71.61 US cents at 1015 AEST, up from 71.32 US cents at Monday’s close.

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