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Australia: Shares test year high, NZ at record close on rate cut views

Thursday, July 21, 2016 - 16:19

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[SYDNEY] Australian shares climbed to a near one-year high and New Zealand stocks struck a record close on Thursday, amid growing expectations of further monetary easing this year.

The S&P/ASX 200 index rose 23.7 points, or 0.4 per cent, to close at 5,512.4, its highest since Aug 6, 2015. The benchmark has risen for 10 of the past 11 sessions.

New Zealand's benchmark S&P/NZX 50 index closed up 41.4 points, or 0.6 per cent, to finish the session at 7,214.1, its third straight day of closing at an all-time high.

REUTERS

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