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Australia: Shares log third weekly gain as China factory data lifts sentiment

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Australian shares closed firmer on Friday, led by mining stocks, as factory output data from the country's biggest trading partner China signalled robust domestic demand and gradual recovery from the coronavirus-led lockdown.

[SYDNEY] Australian shares closed firmer on Friday, led by mining stocks, as factory output data from the country's biggest trading partner China signalled robust domestic demand and gradual recovery from the coronavirus-led lockdown.

The S&P/ASX 200 index closed 1.43 per cent firmer in broad-based gains at 5,404.8 points. The benchmark ended the week 0.3 per cent higher, marking its third weekly gain.

New Zealand's benchmark S&P/NZX 50 index ended marginally lower, though the index rose 0.3 per cent over the week.

A survey on Friday showed manufacturing activity in New Zealand fell to its lowest level ever recorded due to the economic impact of the coronavirus pandemic.

REUTERS

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