Australian shares closed higher on Monday while most Asian indexes saw losses after Wall Street closed lower on Monday.

The S&P/ASX 200 rose 0.34%, or 29.60 points, to close at 8,709.30.

Overnight, the Nasdaq Composite lost 0.9%, the S&P 500 fell 0.8%, while the Dow Jones declined 0.7%.

On the domestic front, the Reserve Bank of Australia's Monetary Policy Board raised the official cash rate by 25 basis points to 4.60% at its meeting on Tuesday, with the decision reached unanimously, according to a statement by the central bank.

Also, Australia's seasonally adjusted household spending remained flat at AU$82.34 billion in August, following a 1.1% increase in the previous month, the Australian Bureau of Statistics reported

Further, the ANZ-Roy Morgan Australian consumer confidence fell 1.5 points to 70.5 in the week of Sept. 21 to 27, ANZ reported.

In company news, Megaport's (ASX:MP1) Latitude.sh subsidiary secured three new artificial intelligence infrastructure contracts valued at about AU$978.6 million in total.

Woolworths Group's (ASX:WOW) New Zealand unit confirmed it will close its New Zealand customer care center and shift about 130 jobs to Australia.

Finally, Firmus, an artificial intelligence infrastructure firm backed by Maas Group Holdings (ASX:MGH), and Meta Platforms struck agreements for GPU compute capacity at Firmus data centers in Southeast Asia, according to a Tuesday statement.