Australia shares close 0.6 pct higher, China PMI boosts

Mon Jun 23, 2014 2:16am EDT

Related Topics

(Updates to close)

SYDNEY, June 23 (Reuters) - Australian shares rose 0.6 percent on Monday, underpinned by gains across most sectors after a rise on Wall Street while investors cheered a Chinese manufacturing survey that showed activity expanded in June for the first time in six months.

The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index rose more than expected to 50.8 in June from May's final reading of 49.4, offering new signs the economy is stabilising thanks to Beijing's measures to shore up growth.

The S&P/ASX 200 index gained 33.8 points at the close of trade. The benchmark fell 0.9 percent on Friday, but rose 0.3 percent for the week, snapping a three-week slide.

New Zealand's benchmark NZX 50 index slipped 0.4 percent or 18.9 points to 5,126.2.

(Reporting by Thuy Ong; Editing by Matt Driskill)

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