Australia: Shares close higher for 2nd session, banks rally

[SYDNEY] Australian shares closed higher for a second session on Thursday, continuing to recover from a recent slide to a two-year low with the help of solid gains in the financial sector.

The S&P/ASX 200 index put on 1.8 per cent, or 90.5 points, to 5,112.1, pulling further away from a trough of 4,918.4 set on Tuesday. The index has gained nearly 4 per cent in the past two sessions.

All the Big Four banks rose, led by a 2.3 per cent rally in Westpac Banking Corp.

New Zealand's benchmark NZX 50 index ended a touch lower at 5,585.4.

REUTERS