September 2, 2014 / 6:25 AM / 3 years ago

Australia shares up 0.5 pct, biggest gain in two weeks

(Updates to close) Australian shares gave up early losses to finish 0.51 percent higher on Tuesday helped by solid building approvals data and a better-than-expected balance of payments, while after the central bank left monetary policy unchanged.

The Reserve Bank of Australia kept interest rates at record lows for the 12th straight policy meeting on Tuesday and seemed content to stay on the sidelines for a while as the economy adjusts to a waning mining boom.

The S&P/ASX 200 index rose 0.51 percent, its biggest gain in two weeks, to end at 5,658.5 points led by strong gains in financials, resources and energy stocks.

New Zealand’s benchmark NZX 50 index rose 0.12 percent or 6.37 points to finish the session at 5,221.77. (Reporting by Swati Pandey; Editing by Eric Meijer)

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