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Australia: Shares close higher after hitting near one-year high

38835340 - 24_06_2016 - BRITAIN-EU_REFERENDUM-ASIA MARKETS.jpg

[SYDNEY] Australian shares rose for a seventh consecutive session on Friday to their highest in nearly a year, on expectations that the central bank will cut interest rates again soon.

The S&P/ASX 200 index closed up 0.3 per cent at 5,452.7, near the session high of 5,452.7 - the highest since August 12.

The benchmark gained nearly 4 per cent for the week, its biggest weekly gain in more than three months.

New Zealand's benchmark S&P/NZX 50 index closed up 1 per cent to finish the session at 7,098.3 - having hit a all-time high.