Australia shares post biggest weekly gain since April on Fed relief

Fri Dec 20, 2013 12:20am EST

(Updates to close)

SYDNEY Dec 20 (Reuters) - Australian shares climbed 1.2 percent on Friday to a two-week high, after the U.S. Federal Reserve's announcement this week of its stimulus-tapering plans removed a major uncertainty that had been hanging over the market.

The S&P/ASX 200 index jumped 63 points to 5,265.2. The benchmark gained 3.1 percent for the week, its biggest one-week gain since April, snapping four consecutive weeks of losses.

New Zealand's benchmark NZX 50 index fell 0.6 percent to 4,681.2. (Reporting by Thuy Ong; Editing by Chris Gallagher)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.