(Updates to close)
SYDNEY, July 2 Australian shares jumped 1.5
percent on Wednesday, as record highs on Wall Street overnight
spurred investors to buy local equities after recent falls.
The S&P/ASX 200 index climbed 79.5 points to 5,455.4
at the close of trade, its biggest one-day percentage gain in
two weeks. The benchmark fell 0.4 percent on Tuesday, reaching a
2-1/2 month low.
Treasury Wines Estates Ltd lost 1 percent after a
law firm said it had filed a Federal Court class action against
the company claiming it misled shareholders about its U.S.
business before destroying millions of bottles of wine last
Lynas Corporation Ltd tumbled 7.1 percent after the
rare earths producer said it will shift its headquarters to
Malaysia and cut jobs to reduce costs as it looks to lift output
of the minerals used in high-tech equipment.
New Zealand's benchmark NZX 50 index edged 0.1
percent higher to 5,149.4.
(Reporting by Thuy Ong; Editing by Richard Borsuk)