Nov 6 (Reuters) - Australian shares rose on Wednesday, tracking their peers on Wall Street, with the technology and commodity sectors leading the gains as investors braced for the outcome of a tightly fought election in the United States.
The S&P/ASX 200 index rose 0.7% to 8,190.90 points by 2350 GMT, with all sub-indexes trading in the green. The benchmark fell 0.4% on Tuesday.
Globally, traders are tuned into a hotly-contested U.S. election as opinion polls failed to suggest a clear winner between Republican Donald Trump and Democrat Kamala Harris.
In the event of Trump becoming president, his tariffs could trigger a global trade war, potentially harming Antipodean economies that depend significantly on free trade.
Back on the local bourse, the heavy-weight mining index
gained the most, as iron ore prices in top steel producer China climbed on the prospects of more stimulus measures.
Sector behemoths BHP Group , Rio Tinto and Fortescue rose between 0.4% and 1.2%.
The gold sector lodged a 0.6% rise, as prices of the precious metal edged higher on prospects of political tensions in the world's largest economy.
Evolution Mining and Northern Star Resources
rose 1.2% and 1% respectively.
Technology stocks followed suit with a 1.2% gain, as their counterparts on the Nasdaq Composite Index climbed. Accounting software provider Xero rose 1%.
The financial sector advanced 0.7%, with all the "Big Four" banks trading between 0.3% and 0.8% higher.
New Zealand's benchmark S&P/NZX 50 index reversed early losses, trading 0.2% higher to 12,681.37 points.
The country's jobless rate rose to a near four-year high in the September quarter, cementing bets of a 50-basis-point cut by the central bank later this month.
(Reporting by Archishma Iyer in Bengaluru; editing by Alan Barona)
((Archishma.Iyer@thomsonreuters.com))
((For more information on DIARIES & DATA:
U.S. earnings diary
Wall Street Week Ahead
Global Economy Week Ahead ................................................................ For latest top breaking news across all markets ))