Australia: Shares hit new 4-month high on rate cut hopes

[SYDNEY] Australian shares climbed to a fresh four-month high on Monday as investors shrugged off lacklustre economic figures from the United States and China to bet on an expected central bank rate cut pumping extra cash into equities.

The S&P/ASX 200 index rose 0.7 per cent or 36.98 points to 5625.3, its highest since Sept. 5. The benchmark has risen for each of past eight sessions.

New Zealand's benchmark NZX 50 index added 12.69 points or 0.2 per cent to finish the session at 5756.69.

REUTERS