AAP

The ASX has closed basically unchanged after losses by the mining sector and gains for consumer staples and health care.

Treasurer Jim Chalmers says a boost to migration is not the only solution to fixing skills shortages across the country.

The local bourse has dropped by 1.1 per cent, as traders take a little off the table before the release of US inflation and Chinese GDP figures.

The federal government says its position on dealing with China remains unchanged, despite China listing four demands in order to improve ties.

The Australian share market has finished the day up 0.45 per cent and gained 2.1 per cent for the week, its best performance in 17 weeks.

Japanese former Prime Minister Shinzo Abe has died, public broadcaster NHK has reported.

Prime Minister Anthony Albanese says the United Kingdom-Australia relationship goes beyond individuals and will continue to thrive with new leadership.

Boris Johnson says he is resigning as Britain's prime minister, bowing to calls from ministerial colleagues and lawmakers in his Conservative Party.

Gains by the heavyweight mining sector have helped lift the Australian share market by 0.8 per cent as industrial metal prices rebound.

The Australian Bureau of Statistics says payroll jobs rose 0.1 per cent in the month to June 11, with the trade surplus coming in at $15.9 billion in May.

Ahead of the release of payroll figures and the latest data on Australia's trade surplus, job advertisements are showing potential signs of decline.

The ASX's mining and energy sectors have fallen sharply after global commodity prices plunged on fears of a global recession.

ANZ has followed Commonwealth Bank in raising mortgage rates following the central bank's decision to lift the cash rate to 1.35 per cent.

As the Reserve Bank hikes the cash rate for the third month in a row, rents are higher across city and regional areas.

The ASX has closed modestly higher after the Reserve Bank announced another 50 basis point rate rise, as expected.

The Reserve Bank of Australia board is expected to lift the official cash rate to 1.35 per cent when it meets on Tuesday.

Australian pilots are being pressured to fly while tired and work around "unstable" rosters, according to a union survey.

The S&P/ASX 200 index rose 1.1 per cent by noon, recouping some of the losses from the previous three sessions.

Anthony Albanese has ushered in a new relationship between Australia and France with commitments to tackle climate change and engage more with Pacific nations.

The S&P/ASX 200 index has ended 0.4 per cent lower by the close amid concerns over global economic growth.

Australian workers will be entitled to more superannuation while some households face bigger power bills in the new financial year.

The benchmark S&P/ASX200 index slid nearly 2 per cent in the last trading session of the financial year, amid worries over rising rates.

Job vacancies grew by 13.8 per cent in the three months to May and stand at more than double the number recorded before the COVID-19 pandemic set in.

The power market operator AEMO has released a roadmap for the sector as it continues to transition to more renewable and gas energy sources.

The Australian share market has fallen almost one per cent, ending a four-day winning streak amid renewed concerns of a global recession.

Australian shares extended gains from the previous session as a lift in commodities prices and fund buying ahead of the year-end helped the market close firmly higher.

The 2021 census shows that households with a mortgage have doubled in the past 25 years, while those owned outright have grown by 10 per cent.

Consumer confidence has improved for a second consecutive week after a slump earlier in the month as a result of a large rise in interest rates.

The benchmark ASX indices have rallied nearly two per cent by the close, with miners and financial stocks leading the charge.

The Bank for International Settlements has warned of the risk of stagflation as the global economy faces slower growth and high inflation.

The ASX200 rallied in the final hour of trading on Friday to finish up 0.8 per cent, and 1.6 per cent higher for the week.

Qantas will launch direct flights from Perth to Johannesburg and Jakarta as Western Australia continues its reopening after years of border closures.