(Updates to close)
SYDNEY May 13 Australian shares ended 0.9
percent higher on Tuesday, spurred by broad-based gains in
miners and banks after Wall Street notched up another record
high and base metals firmed.
Investors were also looking ahead to the first budget from
the conservative coalition government of Prime Minister Tony
Abbott at 0930 GMT, with big spending cuts forecast, along with
tax hikes and spending on
Earlier in the day, April factory output and retail sales
from China, Australia's biggest export market, came in below
The S&P/ASX 200 index gained 49.76 points to close
at 5,498.2 after earlier touching the highest level since April
30. The benchmark dipped 0.2 percent to 5,448.4 on Monday.
New Zealand's benchmark NZX 50 index rose 0.72
percent to 5,199.34 points.
(Reporting by Swati Pandey; Editing by Jacqueline Wong)