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Australia: Shares gain on belated China enthusiasm, commodity rebound

Tuesday, April 21, 2015 - 15:52
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[SYDNEY] Australian shares rose on Tuesday as investors belatedly cheered China's boost to bank lending, and a rebound in iron ore prices spurred resources higher.

Newly released notes from an April 7 Reserve Bank of Australia meeting which left open the prospect of further rate cuts also gave investors a reason to buy.

Ending a two-day losing streak, the S&P/ASX 200 index gained 39.2 points or 0.7 per cent to 5872.3 at the close of trade.

New Zealand's benchmark NZX 50 index eased 0.1 per cent or 6.8 points to finish the session at 5817.5.

REUTERS