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2022-01-17

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Australian Shares Inch Higher on Oil, Tech Boost; NZ Dips

Jan 17 (Reuters) - Australian shares see-sawed between gains and losses on Monday, with a jump in en

Australian Shares Inch Higher on Oil, Tech Boost; NZ Dips

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Sector majors Woodside Petroleum and Santos firmed about 1.2% each.Offering support to the benchmark, tech stocks — tracking their Wall Street peers — were up 0.5%, with software firm WiseTech Global gaining up to 2.5%.However, the mining sub-index weighed on markets, falling 0.2% on weak iron ore prices.Fortescue Metals slid 1.4%, the most among Australia&#39;s big miners. 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Sector majors Woodside Petroleum and Santos firmed about 1.2% each.Offering support to the benchmark, tech stocks — tracking their Wall Street peers — were up 0.5%, with software firm WiseTech Global gaining up to 2.5%.However, the mining sub-index weighed on markets, falling 0.2% on weak iron ore prices.Fortescue Metals slid 1.4%, the most among Australia's big miners. Rio Tinto fell 0.8%, while BHP Group was largely flat.Investors now await quarterly production numbers from miners like Rio Tinto, BHP Group and oil majors like Woodside Petroleum during the week.Separately, BHP said on Monday it would buy battery electric trains to deliver iron ore from its mines to ports in Western Australia, joining Rio Tinto and Fortescue that made similar purchases last week.Gold stocks fell 0.8%, pressured by lower gold prices. 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