Australia: Shares close higher, up strongly on week
[SYDNEY] Australian shares ended higher on Friday, shaking off a negative lead from Wall Street after the head of the central bank made reassuring comments about the economy.
The S&P/ASX 200 index closed 0.5 per cent, or 23.7 points, higher at 5,170.5, taking this week's gains to 2 per cent.
Contributing to the positive session, all of the big four banks closed in the black, led by a 1.3 per cent rally in Westpac Banking Corp.
RBA Governor Glenn Stevens gave an upbeat assessment of the economy, helping offset a more cautious tone from the Federal Reserve, which delayed a long-expected hike in US interest rates.
New Zealand's benchmark NZX 50 index closed 0.3 per cent, or 17.8 points, higher at 5,712.1.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard