(Updates to close)
SYDNEY May 23 Australian shares rose 0.2
percent to a one-week high on Friday, supported by gains on Wall
Street and in major banks, though weakness in energy stocks
capped broader moves higher.
Qantas Airways Ltd climbed 4.7 percent to 7-month
highs of A$1.33. Earlier in May, the embattled carrier said it
expected to shed 2,200 jobs by the end of June.
The S&P/ASX 200 index added 12.9 points to close at
5,492.8, and was up 0.3 percent for the week, its third
consecutive week of gains.
The benchmark gained 1 percent on Thursday, its biggest
one-day percentage rise since Feb 12.
New Zealand's benchmark NZX 50 index added 0.4
percent to 5,151.4.
(Reporting by Thuy Ong; Editing by Kim Coghill)