(Updates to close)
Jan 8 (Reuters) - Australian shares marked a ten-year peak and rallied to end their fourth session higher on Monday, helped higher by banking stocks and as positive cues from Wall Street backed buying sentiment.
The S&P 500 and Nasdaq clocked their best week in more than a year on Friday as technology stocks buoyed major indexes to records.
The nation’s benchmark S&P/ASX 200 index ended the session 0.1 percent higher. The index rose 0.7 percent on Friday.
Financials accounted for the majority of gains on the index, with Commonwealth Bank of Australia and Australia and New Zealand Banking Group, the top drivers of the index, adding 0.6 percent and 0.3 percent, respectively.
Real estate and healthcare stocks were also in demand, with DEXUS Property Group gaining the most in nearly a month and healthcare giant CSL Ltd climbing 0.4 percent.
Insurer Suncorp Group dampened the cheer, slacking 1.3 percent to its lowest in over two months after it booked a A$160 million to A$170 million ($125.73 million to $133.59 million) hit to its half-year earnings due to a hailstorm that struck Melbourne in December.
Miners also traded in the red after global commodity prices eased off a recent rally. Australia flagged a possible 20 percent slide in iron ore prices this year from 2017, depressing mining stocks further.
Global miner BHP Billiton and iron ore explorer Fortescue Metals Group lost 0.1 percent and 2.2 percent each. Gold miner Newcrest Mining shed 0.7 percent.
Across the Tasman Sea, New Zealand’s benchmark S&P/NZX 50 index, which inched higher to a record earlier in the day, retreated to close 0.4 percent lower.
The index snapped a three-session gain streak, pulled down by healthcare and material stocks.
Fisher & Paykel Healthcare Corporation Ltd and construction company Fletcher Building Ltd were the biggest drags on the index, losing 1.2 percent and 1.5 percent each. (Devika Syamnath in Bengaluru; Editing by Sam Holmes)