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Australia: Shares come off 1-month high to close up 0.33%


[SYDNEY] Australian shares finished 0.33 per cent higher on Tuesday, led by gains in banks and miners but came off a near 1-month high hit earlier in the day on profit-taking - particularly in telecommunications and industrials stocks.

The S&P/ASX 200 index rose 16.87 points to 5,167.4 at the close of trade, coming off an intraday peak of 5,220 - a level not seen since Sept 10. The benchmark rose 2 per cent on Monday.

Technical analysts expect some selling pressure to emerge around 5,200 points - a key resistance level while 5,000 remained a crucial support.

The index hit a two-year trough late last month on concerns about global growth and on rising uncertainty over China. It has since gained about 5 per cent.

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For the year, the benchmark is still down about 4 per cent and a new Reuters Poll found the index is expected to end 2015 at 5,200 - marking its first annual loss since 2011.

New Zealand's benchmark NZX 50 index rose 0.67 per cent or 37.57 points to finish the session at 5,668.11.