Feb 14 (Reuters) - Australian shares rose to a fresh high on Friday with commodity-related and technology stocks leading the gains, while Cochlear dragged the healthcare sector lower on disappointing full-year earnings forecast.
The S&P/ASX 200 index .AXJO was up 0.7% at 8,603.4, as of 2346 GMT, after hitting a record high of 8,607.4 earlier in the day. The benchmark has gained about 0.9% so far in the week.
Gold stocks .AXGD advanced as much 1.3% on strong bullion prices. For the week, the sub-index was up 3.3%, heading for its eighth consecutive weekly gain. GOL/
Gold miner Evolution Mining EVN.AX rose as much as 1.1% on Friday.
Energy stocks .AXEJ gained up to 1.2%, even though oil prices inched lower. Woodside Energy WDS.AX and Santos STO.AX were up 0.7% and 0.2%, respectively. O/R
Miners .AXMM climbed as much as 1.5% even after iron ore prices closed lower overnight. The sub-index has risen 2% so far in the week and is on track for a third week of gains. IRONORE/
BHP Group BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX gained between 0.8% and 1.8% on Friday.
Technology stocks .AXIJ followed their Wall Street peers higher, rising as much as 1.3%. Overnight, the U.S. Dow Jones Industrial Average .DJI rose 0.77%, the S&P 500 .SPX gained 1.04% and the Nasdaq .IXIC climbed 1.50%.
Meanwhile, healthcare stocks .AXHJ slipped 0.6% to hit a record low, dragged down by Cochlear COH.AX, one of the priciest stocks on the benchmark.
The hearing implants maker fell 12.3% to its lowest level since November 2023 after it said it expected annual earnings at the lower end of its previous forecast range and posted first-half underlying profit below analyst's estimates.
AMP AMP.AX dropped as much as 14% and was among the top laggards on the benchmark, after the money manager declared lower dividend.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.3% to 12,946.46.
(Reporting by Sherin Sunny in Bengaluru; Editing by Subhranshu Sahu)
((Sherin.Sunny@thomsonreuters.com))
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