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SYDNEY, June 26 (Reuters) - Australian shares snapped a four-day decline to rise 1.3 percent after Wall Street rallied on improved investment and housing data, and China’s central bank moved to calm fears of a credit crunch.
Global miners BHP Billiton Ltd and Rio Tinto Ltd climbed 2.0 percent and 2.6 percent respectively after commodities prices recovered on easing fears about China’s liquidity problem.
China’s central bank moved on Tuesday to assure markets it would provide cash to institutions that need it following days of turmoil that pushed shares to their lowest level in more than four years on fears of a banking crisis.
Banks gained as well, with top lender Commonwealth Bank of Australia rising 1.1 percent.
The S&P/ASX 200 index added 60.6 points to 4,716.6 by 0014 GMT. The benchmark fell 0.3 percent on Tuesday.
New Zealand’s benchmark NZX 50 index rose 1.1 percent to 4,364.0.
Reporting by Maggie Lu Yueyang; Editing by Stephen Coates