Australia shares edge higher on rate cut, Wall St boost; NZ higher

[SYDNEY] Australian shares made a modest advance on Thursday as optimism from a recent rate cut and a higher close on Wall St helped investors shrug off soft economic data, while New Zealand stocks also rose.

The S&P/ASX 200 index was up 10.1 points, or 0.2 per cent, at 5,475.8 at the close of trade. The benchmark has risen for seven of the last 10 sessions, and is up 5 per cent since the start of the new financial year on July 1.

New Zealand's benchmark S&P/NZX 50 index added 20.1 points, or 0.3 per cent, to finish the session at 7,298.08.

REUTERS