Australia: Shares post biggest one-day gain since July 2013

[SYDNEY] Australian shares surged 2.5 per cent on Friday, the biggest one-day gain since July 2013, after the Federal Reserve promised patience in raising US interest rates.

The S&P/ASX 200 index jumped 127.8 points to 5,338.6 at the close of trade, with all sectors advancing. The benchmark climbed 1 percent on Thursday.

The two-day rally helped the index post its best weekly performance in eight weeks, rising 2.3 per cent.

New Zealand's benchmark NZX 50 index on Friday rose 0.17 per cent or 9.27 points to finish the session at 5,527.75.

REUTERS