Australian shares rise as copper surge lifts mining stocks

Australian shares rose 0.3% as mining stocks surged due to record-high copper prices, despite losses in real estate and consumer stocks. The S&P/ASX 200 index closed at 8,618.40 points. Miners gained 0.8%, with BHP Group and Rio Tinto climbing 3.6% and 3.9%, respectively. Real estate stocks fell 2.1% amid interest rate hike expectations. Australian household spending surged, indicating potential rate increases. New Zealand's S&P/NZX 50 index rose 0.5%.