(Updates to close)
SYDNEY May 22 Australian shares rose 1 percent
on Thursday, as an upbeat Chinese manufacturing survey helped
miners claw back recent steep losses from slumping iron ore
China's factory sector turned in its best performance in
five months in May, a preliminary HSBC survey showed, though
overall manufacturing growth still contracted slightly in a
suggestion that the outlook remains murky.
China is Australia's largest export market.
The S&P/ASX 200 index advanced 55.3 points to
5,479.9 at the close of trade, its biggest one-day percentage
gain since February 12. The benchmark added 0.1 percent on
New Zealand's benchmark NZX 50 index added 0.4
percent to 5,128.8.
(Reporting by Thuy Ong; Editing by Shri Navaratnam)