(Updates with opening prices)
MELBOURNE Nov 30 Australian shares rose 0.5 on
Friday to a fresh three-week high, helped by firmer base metals
prices and a higher finish on Wall Street.
Shares in Lynas Corp climbed 6 percent after the
company said it has started operations at its controversial
Malaysian rare earths plant.
The benchmark S&P/ASX 200 index gained 22.2 points
to 4,499.9 at 2314 GMT. The benchmark rose 0.7 percent on
New Zealand's benchmark NZX 50 index rose 0.2
percent to 4,026.5.
The investment fund of New Zealand's Fonterra, the world's
largest dairy exporter, traded at nearly a 22 percent premium in
its market debut.
The units in the new fund opened at NZ$6.66 from
the issue price of NZ$5.50, having raised NZ$525 million ($430
million) for the farmer-owned co-operative to bolster its
balance sheet and fund expansion plans.
It last traded at NZ$6.70.
(Reporting by Victoria Thieberger; Editing by Richard Pullin)