Australia: Shares close higher as banks reverse losses
[SYDNEY] Australia's share market closed higher for a fifth session on Wednesday as the major banks bounced back from early declines in a sign that demand for high-yielding stocks was still strong.
The S&P/ASX 200 index was a touch higher at 5,551.6, having climbed a four-month peak. Earlier, the benchmark index fell as much as 0.5 per cent.
Commonwealth Bank erased losses to hit an all-time high of A$87.97, surpassing the previous peak of A$87.65 set on Tuesday.
New Zealand's benchmark NZX 50 index rose 1.0 per cent, or 57.1 points to finish at an record closing high of 5,794.8.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
Europe: Stocks retreat on earnings gloom, weak US economic data