Australia: Shares recover losses to end higher

[SYDNEY] Australian shares ended higher on Thursday, recovering some of the losses incurred earlier in the day, buoyed by a rise in gold prices as the US dollar weakened, helping basic material stocks.

The S&P/ASX 200 index ended the session up 0.25 per cent, or 14.01 points, at 5,669.1.

Basic materials stocks were boosted by the US dollar sagging against the yen on Thursday as US yields slipped to two-week lows after weaker-than-expected US pending home sales data and a robust debt auction.

Rio Tinto climbed more than 1 per cent to its highest in two weeks while BHP Billiton rose 0.24 per cent.

New Zealand's benchmark S&P/NZX 50 index closed 0.24 per cent, or 16.5 points higher at 6,892.28.

The index was driven by gains in A2 milk and Air New Zealand, each rising over 2 per cent while Ryman Healthcare gained 1.5 per cent.

REUTERS