Australia: Shares up on US stimulus cheer; NZ ends at record high

[SYDNEY] Australian shares rose on Tuesday, driven by financial and technology stocks, as market participants cheered the signing of a long-awaited Covid-19 pandemic aid package in the United States and a landmark Brexit deal.

The S&P/ASX 200 index closed up 0.53 per cent at 6,700.3, just 16.2 points higher than where it started at the beginning of the year.

US stock indexes notched record closing highs on Monday, after President Donald Trump walked back on his threat to block a US$2.3 trillion pandemic aid package, and signed it into law on Sunday.

Adding to cheer, Britain clinched a narrow Brexit trade deal with the European Union on Thursday, limiting the scale of disruption from the divorce.

With just two trading days left for 2020, Australia's benchmark looks to end a year of record highs and historic lows nearly unchanged from where it began.

Tech stocks are set to emerge as the winners of 2020 as consumers stuck at home due to coronavirus-induced curbs moved online, while energy stocks are set to end nearly 30 per cent lower after lockdowns around the world battered fuel demand.

New Zealand's benchmark S&P/NZX 50 index rose 1.6 per cent and notched a record closing high of 13,246.77.

REUTERS