Australia: Shares recover to close steady as China markets bounce

[SYDNEY] Australian shares closed steady on Thursday after earlier slipping to their lowest level since January, as Chinese equity markets stemmed a rout - at least for now - thanks to a flurry of support measures from Beijing.

The S&P/ASX 200 index rose 1.472 points or 0.03 per cent, to 5,471 at the close of trade, after falling as low as 5,383.7 in morning trading. The benchmark fell 2 per cent on Wednesday.

New Zealand's benchmark NZX 50 index fell 0.52 per cent or 30.26 points to finish the session at 5,737.440.

REUTERS