Australian shares rise as commodity-linked stocks advance

Australian shares experienced a rise on Monday, propelled by gains in mining, financial, and energy stocks. The benchmark S&P/ASX 200 index climbed 0.5% to reach 8,725.70 points as of 0031 GMT, following a 0.2% increase the previous day. Investors continued to monitor the central bank's outlook for interest rates, after the Reserve Bank of Australia (RBA) raised its cash rate to a 15-year high last week.

The RBA cautioned that inflation risks remained elevated, reaffirming its readiness to increase rates again if price pressures persisted. Despite August's inflation acceleration due to higher fuel prices, it remained below estimates, providing some comfort to investors and diminishing expectations of another rate hike in November.

Mining stocks saw a 0.7% rise on Monday, buoyed by stronger commodity prices. Global heavyweights Rio Tinto and BHP each climbed over 1%. Banks gained 0.6%, on track for a second consecutive day of gains, with the "Big Four" lenders, led by Westpac, all trading higher. Energy stocks also rose 0.2%, as oil prices remained elevated. Leading energy sector players Woodside Energy and Santos posted gains of 0.3% and 1.1%, respectively.

Healthcare stocks experienced a 0.7% increase, with CSL Biotech surging up to 1.3% after securing a deal worth up to $1.6 billion with Switzerland's Alentis Therapeutics. The agreement aimed to jointly develop treatments for rare kidney and liver diseases. Gold stocks, however, shed early gains and traded down 0.2%, while technology stocks remained flat.

Among the index's worst performers were sector majors WiseTech, which dropped 2.2%, and Xero, which lost 1%. Across the Tasman Sea, New Zealand's S&P/NZX 50 index edged up by about 0.3% to 13,715.10 points.