Australia: Shares rally to 7-week high, New Zealand hits fresh record

[SYDNEY] Australian shares rose 1.5 per cent on Monday to their highest level in seven weeks, while New Zealand stocks set a fresh record high in thin holiday-time trading.

The S&P/ASX 200 index ended up 79.2 points at 5,473.8, after earlier rising to as high as 5,479.9. The benchmark is on track for a gain of more than 2 percent in 2014.

New Zealand's benchmark NZX 50 index added 0.6 per cent or 34.9 points to finish at 5,592.3, just off the day's high of 5,594.47.

REUTERS