May 3 (Reuters) - Australian shares jumped on Friday led by mining and technology stocks, while investors awaited the domestic central bank's monetary policy meeting next week, for additional hints on its interest rate path.
The S&P/ASX 200 index rose 0.4% to 7613.40 by 0010 GMT, eyeing its best week since March-end. The benchmark rose 0.2% on Thursday.
Investors' focus is now on the Reserve Bank of Australia's two-day monetary policy meeting on May 6-7 to gain better clarity on the central bank's interest rate trajectory.
Markets, as of May 1, are pricing in a 95% chance that the central bank will keep rates on hold in the upcoming meeting, according to ASX RBA Rate Tracker.
"We expect the post-meeting statement to read more hawkish than March. This will likely reflect tweaks to the inflation section, and a shift back to a more hawkish tone in the final paragraph," analysts at ANZ noted.
Heavyweight miners led gains, jumping 0.5%, with mining giants BHP Group and Rio Tinto up 0.4%, each. The sub-index is, however, set for its third straight weekly decline.
Rate-sensitive financials rose 0.3%, with the 'Big Four' banks gaining between 0.1% and 0.7%.
The country's largest investment bank Macquarie Group fell as much as 2% in early trade after it reported a 32% drop in its full-year profit.
Financial stocks are also eyeing their best week since March 22.
Technology stocks ascended about 1.1%, tracking gains in their Wall Street peers, with sector major Xero jumping 1%.
Gold stocks, on the other hand, fell 0.4%, as bullion prices fell on chances of U.S. interest rates staying higher for longer.
Major gold miner Evolution Mining was down about 2.8%, hitting its lowest level since April 23.
New Zealand's benchmark S&P/NZX 50 index fell 0.2% to 11851.91.
(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Rashmi Aich)
