(Updates to open)
SYDNEY, April 23 Australian shares rose 0.9
percent on Tuesday after Wall Street climbed overnight, but
gains were kept in check as miners lost ground on weak metals
prices and as investors await crucial manufacturing data from
China for further indication of the growth outlook.
The HSBC China flash Purchasing Managers' Index (PMI) for
April is due out at 0145 GMT on Tuesday.
Financials led the index higher, with Australia and New
Zealand Banking Corp rallying 1.2 percent while Westpac
Banking Corp added 1 percent.
The benchmark S&P/ASX 200 index climbed 42.3 points
to 5,008.8 by 0014 GMT. The benchmark rose 0.7 percent on
Traders were closely watching the China manufacturing data
after the recovery in world's second-largest economy
unexpectedly stumbled in the first quarter. China is
Australia's biggest export market.
The benchmark index suffered its biggest weekly loss in
almost a month last week on concerns that subdued global growth,
particularly in China, may depress demand for Australia's raw
On Tuesday, miners underperformed with BHP Billiton Ltd
down 0.5 percent while Iluka Resources Ltd
lost 1.8 percent. Rio Tinto Ltd was trading flat.
Copper fell almost 1 percent on Monday, to trade close to
1-1/2 year lows at $6,935 a tonne amid disappointing global
growth and higher supply prospects.
New Zealand's benchmark NZX 50 index added 0.5
percent to 4,507.2.
(Reporting by Thuy Ong; Editing by Shri Navaratnam)