Global markets | Australian shares rise modestly as sticky core inflation keeps rate hike bets alive (opens original article in a new tab)

Australian shares rose modestly as core inflation remained high, keeping rate hike expectations alive. Technology and health stocks gained, while mining and gold stocks fell.

• Australian shares closed 0.2% higher on Wednesday
• Core inflation increased to 3.6% in May, above target band
• Technology stocks rose 5.2% amid bargain hunting
• Financials and health stocks also gained
• Mining and gold stocks declined due to weaker commodity prices