** Australian mining sub-index .AXMM rose more than 2%, clocking its biggest daily pct gain since Dec. 10
** Sector heavyweights Rio Tinto RIO.AX and BHP BHP.AX rise 2.3% and 1.5%, respectively, to hit 2-week highs; Fortescue FMG.AX about 2% higher
** The positive overnight leads from the U.S. and new all-time highs in precious metals are contributing to the strong performance of miners, according to Junvum Kim, Asia Pacific senior sales trader with Saxo Markets
** Materials and miners sector also supported by strength in metals such as copper, which is up for third straight day MET/L
** Softer U.S. dollar is additionally helping commodity players, as a weaker dollar typically supports commodity prices, Kim added USD/
** An additional 10% tariff on Chinese imports came into effect on Tuesday, and was met with a package of retaliatory measures from China, which included stricter export regulations for tungsten and four other critical metals
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.shaikh@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.