Australia: Shares end at record high on trade boost; NZ gains
[SYDNEY] Australian shares hit their highest close ever on Wednesday, with mining stocks leading the rally, as investors factored in the growing likelihood of an interim China-US trade deal.
US President Donald Trump said on Tuesday that United States and China are close to an agreement on the first phase of a trade deal, after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.
Australia's benchmark S&P/ASX 200 index closed at 6,850.60, up 0.9 per cent or 63.1 points, extending gains for a fourth consecutive session.
One of the greatest beneficiaries of easing hostilities with China - Australia's biggest trading partner - are mining stocks, which ended 1.3 per cent firmer.
Global miners BHP Group and Rio Tinto closed up 1.2 per cent and 1.1 per cent, respectively.
In New Zealand, its benchmark S&P/NZX 50 index closed 0.7 per cent higher at 11,120.81.
REUTERS
KEYWORDS IN THIS ARTICLE
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
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling