(Corrects RIC in paragraph 4.)
Dec 29 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 U.S. dollar
weakened, helping basic material stocks.
The S&P/ASX 200 index ended the session up 0.25
percent, or 14.01 points, at 5,669.1.
Basic materials stocks were boosted by the U.S. dollar
sagging against the yen on Thursday as U.S. yields slipped to
two-week lows after weaker-than-expected U.S. pending home sales
data and a robust debt auction.
Rio Tinto climbed more than 1 percent to its
highest in two weeks while BHP Billiton rose 0.24
Gold prices rose on Thursday as the U.S. dollar slipped
versus its index basket of currencies.
The Australian benchmark gold index rose 3.35
percent to its highest in over two weeks with gold miners
Newcrest Mining and Evolution Mining and
Northern Star Resources gaining between 3 percent and 7
The financial sector in Australia was flat, with the losses
in property sector and tracking U.S. peers, offsetting gains by
the "Big Four" banks.
Dexus Property Group lost 3.34 percent while
Westpac Banking Corp and Commonwealth Bank of Australia
recovered earlier losses to end up 0.3 and 0.2 percent
New Zealand's benchmark S&P/NZX 50 index closed 0.24
percent, 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 percent while Ryman
Healthcare gained 1.5 percent.
(Reporting by Susan Mathew in Bengaluru; Editing by Eric