Australian shares rise, post biggest weekly gain in 2 months; NZ down
Add BT as a preferred source
[BENGALURU] Australian shares ended higher for a fourth straight session on Friday, posting their biggest weekly gain in 2 months, as the US Federal Reserve's signal to go easy on rate increases next year and in 2018 buoyed investors.
The S&P/ASX 200 index ended 1.1 per cent higher, or 56.84 points, at 5,431.30, led by financials.
The 'Big Four' Australian banks gained between 0.7 per cent and 1.7 per cent, underpinned by the Fed's move to maintain a low-interest rate environment that has helped sustain the bull market for stocks since the global financial crisis.
The benchmark rose 2.5 per cent on the week, snapping five straight weeks of losses.
New Zealand's benchmark S&P/NZX 50 index nudged 0.2 per cent lower, or 14.97 points, to end at 7,296.74.
The benchmark was up 0.6 per cent on the week.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Orion Health Group hit a five-month closing low to end down 5.2 per cent.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
COEs for large cars up 4.3% at S$126,236, mainstream cars near S$125,000
‘We’re not a bubble tea brand’: Chagee aims to double Asia-Pacific footprint to 600 stores by 2027
